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Jobless claims average hits highest level since August 2016, but initial claims unexpectedly settle

September 14, 2017

The US four-week moving average of initial claims for unemployment insurance was 263,250 last week, up 13,000 from the previous week’s unrevised average, according to seasonally adjusted numbers released today by the US Department of Labor. This is the highest level for this average since Aug. 13, 2016, when it also was 263,250.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Sept. 9 fell to 284,000, down 14,000 from the previous week’s unrevised level.

Hurricanes Harvey and Irma affected initial claims.

Bloomberg reported filings for jobless benefits in the US unexpectedly settled back last week, underscoring a resilient labor market even as the Atlantic hurricane season introduces added volatility to the figures.