Jobless claims fell more than expected for the week ending August 28th, according to the latest data from the Department of Labor…(DOL)
- Initial claims were 340,000, a decrease of 14,000 from the previous week’s revised level. Forecasts had claims falling to 345k. This was the lowest level since March 14th, 2020.
- The 4-week moving average was 355,000, a decrease of 11,750 from the previous week’s revised average. This was the lowest level since March 14th, 2020.
Continuing claims also beat expectations for the week ending August 21st…
- Continuing claims fell to 2,748,000, a decrease of 160,000 from the previous week’s revised level. Forecasts had claims only falling to 2.775M. This is the lowest level since March 14th, 2020.
- The 4-week moving average was 2,855,000, a decrease of 58,000 from the previous week’s revised average. This was the lowest level since March 21st, 2020
The state-level data was a mixing pot as always for the week ending August 21st…
- The states with the largest increases were Illinois (+3,832), Florida (+2,545), Maryland (+1,723), Oregon (+1,377), and New Jersey (+837),
- The states with the largest decreases were Michigan (-6,757), Virginia (-4,670), Texas (-3,040), Ohio (-1,515), and Georgia (-1,407).