US Jobless Claims Fall 10,000 to 196,000 as Fed Raises Rates 25 Basis Points
Updated
Updated · Yahoo Finance · Sep 17
US Jobless Claims Fall 10,000 to 196,000 as Fed Raises Rates 25 Basis Points
3 articles · Updated · Yahoo Finance · Sep 17
Summary
196,000 Americans filed new unemployment claims in the week ended Sept. 12, down 10,000 and the lowest level since mid-July, versus economists’ 208,000 forecast.
Labor Day likely exaggerated the drop because seasonal adjustments around moving holidays are volatile, but the four-week average still fell 2,750 to 203,250, pointing to a steady labor market.
1.730 million continuing claims fell by 39,000 in the prior week to the lowest since January 2024, though economists said that figure was also distorted by seasonal factors.
The stable claims trend covered the survey week for September payrolls and suggests labor conditions changed little from August, when nonfarm payrolls rose 162,000.
That resilience gives the Federal Reserve room to keep fighting Middle East-driven inflation after it lifted rates Wednesday by 25 basis points to 3.75%-4.00% and signaled more increases ahead.