Daily News

View All News

Jobless claims average down 1,500 to 15-year low but total claims rise

August 13, 2015

The US four-week moving average of initial claims for unemployment insurance fell by 1,750 last week to a total of 266,250 from the previous week’s downwardly revised average, according to seasonally adjusted numbers released today by the US Department of Labor. This is the lowest level for this average since April 15, 2000 when it was 266,250.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Aug. 8 rose by 5,000 to a total of 274,000 from the previous week’s downwardly revised level.

No special factors affected this week’s initial claims.

Bloomberg reports its median forecast of 50 economists called for no change in jobless claims from the 270,000 previously reported in the prior week. Applications for unemployment benefits in the US are hovering close to a four-decade low, a sign of muted firings and steady progress in the labor market, according to Bloomberg.