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9/2/2021, 2:32 PM (Source: TeleTrader)
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US jobless claims down by 14,000 to 340,000

The number of initial jobless claims in the United States for the seven-day period ending August 28 went down by 14,000 from the previous week's revised level to 340,000, beating analysts' expectations, the country's Labor Department revealed on its report issued on Thursday.

The figure represents the lowest amount of initial claims registered since March 14, 2020, just before the start of the COVID-19 pandemic. The last week's level was revised up by 1,000 to 354,000. Meanwhile, the four-week moving average came in at 355,000, marking a decline of 11,750 from the previous seven days' revised average.

The advance seasonally adjusted insured unemployment rate stood at 2.0% for the period ending August 21, down by 0.1% from the week before. The advance number of seasonally adjusted insured unemployment for the same timeframe decreased by 160,000 on a weekly level to 2,748,000, the lowest level for insured unemployment since March 14, 2020.

Baha Breaking News (BBN) / JR