Weekly Unemployment Claims: Down 16K, Beats Forecast

Here is the opening statement from the Department of Labor:

In the week ending September 24, the advance figure for seasonally adjusted 16,000 from the previous week's revised level. The previous week's lev initial claims was 193,000, a decrease of el was revised down by 4,000 from 213,000 to 209,000. The 4-week moving average was 207,000, a decrease of 8,750 from the previous week's revised average. The previous week's average was revised down by 1,000 from 216,750 to 215,750.

The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending September 17, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending September 17 was 1,347,000, a decrease of 29,000 from the previous week's revised level. The previous week's level was revised down by 3,000 from 1,379,000 to 1,376,000. The 4-week moving average was 1,381,250, a decrease of 22,500 from the previous week's revised average. The previous week's average was revised down by 1,000 from 1,404,750 to 1,403,750.

This morning's seasonally adjusted 193K new claims, down 16k from the previous week's revised figure, was better than the Investing.com forecast of 215K.

Here is a close look at the data over the decade (with a callout for the past year), which gives a clearer sense of the overall trend.