US Unemployment Claims Hit Record Minimum
According to the Labor Department, U.S. unemployment claims hit the lowest since 1969, with initial claims for state unemployment benefits declining 10,000 to a seasonally adjusted 203,000 for the week ended September 1. The Reuters forecast suggested rise to 214,000. The 4-week moving average of initial claims dropped 2,750 to the 49-year minimum of 209,500.
The amount of citizens getting pensions after an initial week of aid lowered 3,000 to 1.71M for the week ended August 25. The 4-week moving average of continuing claims reduced 13,250 to the 45-year minimum of 1.72M.
As of coming NFP report, Reuters analysts expect a rise of 191,000 jobs in August, up from July’s 157,000. The jobless rate is projected to fall one-tenth of a percentage point to 3.8%, touching its 18-year minimum.