US Job Market Sees Slight Setback: Unemployment Claims Rise to 230,000, Up 2,000 from Last Week
US Weekly New Unemployment Insurance Claims Rise to 230,000
Source: U.S. Department of Labor
The number of people who newly filed for unemployment insurance in the United States over the past week has turned upward, according to the U.S. Department of Labor.
The number of new unemployment insurance claimants for the week ending on the 7th was tallied at 230,000 on a seasonally adjusted basis, an increase of 2,000 from the previous week. This figure exceeded the market forecast of 227,000.
The previous week’s figure was 228,000, an increase of 1,000 from the previous count. The four-week moving average of unemployment insurance claims, which is less volatile, was 237,500, up 500 from the previous week.
The number of people who have filed for unemployment insurance for more than a week has also increased. The number of weekly unemployment insurance claimants tallied as of the 31st of last month was 1.85 million, an increase of 5,000 from the previous week.
The employment slowdown trend is expected to be highlighted again as the number of unemployment insurance claimants increased compared to the previous week. The decline in new employment was also clearly revealed in the US nonfarm payrolls index for August released last week.
Key Statistics:
- New unemployment insurance claims: 230,000 (seasonally adjusted)
- Four-week moving average: 237,500
- Weekly unemployment insurance claimants: 1.85 million