WASHINGTON: The number of Americans filing new claims for unemployment benefits fell last week, pointing to a firming labor market.
Initial claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 197,000 for the week ended September 19, the Labor Department said on Thursday. Economists polled by Reuters had forecast 201,000 claims for the latest week.
Claims are near 57-year lows, partly attributed to difficulties seasonally adjusting the data around moving holidays like Labor Day. Economists have also noted what they refer to as residual seasonality that tends to push claims lower as the year winds down.
Still, the underlying trend in claims remains in line with a labor market that has regained its footing after stumbling through much of the summer, anchored by low layoffs.
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