Economic Buzz: US Jobless Claims Declines To Two-Month Low

2 Sep 2022 , 09:35 AM

The Labor Department released a report showing a modest decrease in the first-time claims for US unemployment benefits in the week ended August 27th. The report showed initial jobless claims edged down to 232,000, a decrease of 5,000 from the previous weeks revised level of 237,000. The Labor department said the less volatile four-week moving average also edged down to 241,500, a decrease of 4,000 from the previous weeks revised average of 245,500. Meanwhile, the report showed continuing claims, a reading on the number of people receiving ongoing unemployment assistance, rose by 26,000 to 1.438 million in the week ended August 20th. Powered by Commodity Insights