In the week ending Sept. 21, the number of people filing for U.S. unemployment benefits increased by 3,000 to 213,000. Meanwhile, the previous week's level was revised up by 2,000 from 208,000 to 210,000.
The report also showed that four-week moving average of initial claims, a method to iron out data volatility, decreased by 750 to 212,000. The previous week's average was revised up by 500 to 212,750.
As an important leading indicator to reflect unemployment status in the United States, a lower reading in jobless claims indicates lower overall layoffs. The reading of jobless claims remained below the 300,000 threshold, signaling a tight labor market in the United States.
For the bigger picture of U.S. labor market, U.S. employers added 130,000 jobs in August, fewer than expected, and the unemployment rate was unchanged at 3.7 percent, according to the U.S. Bureau of Labor Statistics.
Latest comments