US initial jobless claims
A pretty clean jobless claims report, that ought by now be free from adjustment effects from summer auto-plant retooling, saw the closely-watched monthly average reading fall to an eight-year low. Claims of 289,000 through the latest weekend were fewer than expected, consistent with a sustained pick-up in hiring as fewer employers fire workers.
The prior reading was 303,000. The reading drove down the four-week moving average to 293,500 to a level last seen in 2006. The department of labor said no states estimated the latest data. A year ago, the average measure ran at 337,000. Continuing claims through the prior weekend fell by 24,000 to 2.518 million and compares to a year ago count of 3.005 million.
Chart – Claims and four week average