In the week ending September 30, initial jobless claims in the United States increased to 207,000, up slightly from the revised upward figure of 205,000 reported in the previous week. This was slightly below the analyst consensus, which had anticipated a larger rise to 210,000 as of 7:15 am ET.
However, there was a more positive trend in the four-week moving average, which decreased by 2,500 to 208,750, compared to the previous week’s level of 211,250.
Meanwhile, insured jobless claims saw a decrease of 1,000, falling to 1,664,000 for the week ending September 23.
The weekly data on initial jobless claims, released by the US Labor Department, tracks filings for unemployment insurance benefits. Initial filings are recorded through the previous Saturday, while those already receiving benefits are measured with a one-week lag.
A decline in jobless claims is generally seen as a sign of a stronger labor market, which is considered positive for the US economy and stocks. However, it may be viewed negatively for bonds, as it suggests the potential for wage growth that could contribute to inflation.