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Weekly jobless claims edge higher
Macro Matters
US Q2 GDP growth unrevised at 2.1%; weekly jobless claims edge higher
Reuters
September 28, 2023 12:48 PM UTC Updated ago
WASHINGTON, Sept 28 (Reuters) - The U.S. economy maintained a fairly strong pace of growth in the second quarter, the government confirmed on Thursday, and appears to have gathered momentum this quarter amid a resilient labor market.
{snip}
The labor market has continued to hold its own so far. A second report from the Labor Department on Thursday showed initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 204,000 for the week ended Sept. 23. Economists had forecast 215,000 claims for the latest week.
Claims have been in the lower end of their 194,000-265,000 range this year. The number of people receiving benefits after an initial week of aid, a proxy for hiring, increased 12,000 to 1.670 million during the week ending Sept. 16, the claims report showed.
The so-called continuing claims covered the period during which the government surveyed households for September's unemployment rate. Continuing claims were little changed between the August and September survey weeks. The unemployment rate increased to 3.8% in August from 3.5% in July.
Reporting by Lucia Mutikani; Editing by Paul Simao
US Q2 GDP growth unrevised at 2.1%; weekly jobless claims edge higher
Reuters
September 28, 2023 12:48 PM UTC Updated ago
WASHINGTON, Sept 28 (Reuters) - The U.S. economy maintained a fairly strong pace of growth in the second quarter, the government confirmed on Thursday, and appears to have gathered momentum this quarter amid a resilient labor market.
{snip}
The labor market has continued to hold its own so far. A second report from the Labor Department on Thursday showed initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 204,000 for the week ended Sept. 23. Economists had forecast 215,000 claims for the latest week.
Claims have been in the lower end of their 194,000-265,000 range this year. The number of people receiving benefits after an initial week of aid, a proxy for hiring, increased 12,000 to 1.670 million during the week ending Sept. 16, the claims report showed.
The so-called continuing claims covered the period during which the government surveyed households for September's unemployment rate. Continuing claims were little changed between the August and September survey weeks. The unemployment rate increased to 3.8% in August from 3.5% in July.
Reporting by Lucia Mutikani; Editing by Paul Simao
