Initial unemployment claims for the week ending September 28 were a seasonally adjusted 308k, the U.S. Department of Labor reports. This is a minor increase from the prior week’s revised reading of 307k and is yet another very positive report.

Initial unemployment

Initial unemployment claims call to 308,000

Significant weekly changes in individual states:

The insured unemployment rate was a seasonally adjusted 2.3%. This is an increase from the prior week’s 2.2% reading and is the second consecutive weekly increase. This is unusual for a statistic that doesn’t tend to move so rapidly.

The number of unemployment insurance recipients increased to 2.925 million from the prior week’s revised reading of 2.821 million. This is also a statistically significant week over week increase and is not consistent with the recent trend. This is the highest number of unemployment insurance recipients there have been in 5 weeks and suggests that current claims recipients are having a harder time finding work.

Initial unemployment claims call to 308,000

Via: floatingpath.com