Initial those claims
Initial jobless claims continue the move to the downside
  • Prior week 222K revised to 218K
  • initial jobless claims comes in stronger than expected at 213K vs. 226K estimate
  • 4 week moving average 224.0K vs. 232.0K revised
  • continuing claims 1.403M vs. 1.475M estimate. Prior week revised down to 1.401M from 1.473M previously reported
  • 4 week moving average 1.413M vs 1.421M last week
  • The largest increases in initial claims for the week ending September 3 were in Oklahoma (+1,935), Pennsylvania (+1,069), Kentucky (+824), Ohio (+659), and Indiana (+610),
  • the largest decreases were in New York (-3,662), Michigan (-2,132), Connecticut (-1,285), Alabama (-314), and Virginia (-310).

The jobless claims data continue to show strength. The peak came around 250K before starting its move back to the downside through the summer.