Unemployment Insurance Claims Drop by $ 10,000

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The number of people applying for US unemployment aid last week rose less than expected, according to official data released on Thursday. The number of individuals applying for early unemployment benefits in the week ended September 1 was 203,000, down from 10,000 in the previous week to 213,000, the US Department of Labor said.
Analysts had expected claims to increase orders to 214,000 last week. The four-week moving average fell 2,750 from 209,500 last week. The monthly average is seen as a more accurate indicator of labor trends because it reduces volatility in data from week to week.
The claim of continued unemployment, which measures the number of people still receiving benefits after an initial week of aid, reached 1,707,000 compared to 1,710,000 the week before. That compares to a consensus forecast of 1,710,000. The previous week's result was revised to an increase of 2,000, from an initial reading of 1,708,000.

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