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Analysis

New U.S. unemployment filings eased to 197,000

Seasonally adjusted new filings were 197,000 in the week that ended 19 September, down 1,000. The prior week now reads 198,000 after a 2,000 upward revision. Across four weeks the mean moved down by 1,750 and the printed level is 202,250. A week earlier the insured-unemployment rate was still 1.1 percent.

Economics & Markets··Morning
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The week that ended at 197,000

The 24 September table from the Department of Labor counts new filings, not jobs created or cut. For the week ending 19 September that count is 197,000 after seasonal adjustment. It sits 1,000 under the revised week before it. The drop is the whole national movement the table reports.[1]

The revision that moved the previous week

The week before was first published lower, then revised higher by 2,000, so it now stands at 198,000. From that revised base the new week is lower, at 197,000. Across four weeks the mean moved down by 1,750 and the printed level is 202,250. The mean only smooths the department's own series.[1]

Insured unemployment a week earlier

For the week ending 12 September, people already drawing benefits were 1.1 percent of the labor force, unchanged. The seasonally adjusted headcount moved higher by 2,000. The level printed for that series is 1,719,000, after the prior reading was cut by 13,000. The benefit count lags the new-filings count by a week. Bloomberg and CNBC did not add a second write-up in the feeds checked for this slot. The 24 September release sets the seasonally adjusted filing count at 197,000. The week in that row closed on 19 September. That is 1,000 under the revised prior week. The prior week was revised up by 2,000, and the revised figure is 198,000, where the first print had been 196,000. The four-week mean moved down by 1,750 and the printed level is 202,250. The insured rate, for the row that closed on 12 September, stayed at 1.1 percent. The insured headcount moved higher by 2,000, to 1,719,000, after the prior reading of that series was cut by 13,000. The filing count is the week of 19 September. The benefit count is the week before it. The magnitude is a 1,000 change in new filings, not a payroll survey.[1]

References

  1. News sourceU.S. Department of LaborUS initial jobless claims fell to 197,000↩1↩2↩3