Initial claims fall slightly
New claims for unemployment benefits fell slightly last week compared to a revised number from the previous week. This latest data by the US Labor Department suggested the labor market was starting to regain momentum as jobless claims hit a 2-month low.
Weekly jobless claims slipped to 359’000 from a revised 385’000 (previously 382’000) versus consensus for 375’000. Continuing jobless claims dropped to 3.271 mln, down from a revised 3.275 mln (previously 3.272 mln) the week before against a forecast for 3.285 mln. The four-week average slipped to 374’000 from 377’750.
Similarly, US Durable goods orders came out softer than expected in August down to -13.2 from 4.2 previously compared to prevision for -5.0.
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