WASHINGTON (MarketWatch) - Applications for U.S. unemployment benefits
dropped 26,000 to a seasonally adjusted 359,000 in the week ended Sept.
22, the Labor Department said Thursday. That's the
lowest level since
late July. Economists surveyed by MarketWatch expected claims to fall to
375,000. Initial claims from two weeks ago were revised up 385,000 from
an original reading of 382,000, based on more complete data collected
at the state level. The average of new claims over the past month,
meanwhile, declined by 4,000 to 374,000. The four-week average reduces
seasonal volatility in the weekly data and is seen as a more accurate
barometer of labor-market trends. Also, Labor said continuing claims
decreased by 4,000 to a seasonally adjusted 3.27 million in the week
ended Sept. 15. Continuing claims reflect the number of people already
receiving benefits. About 5.17 million people received some kind of
state or federal benefit in the week ended Sept. 8, virtually unchanged
from the prior week. Total claims are reported with a two-week lag.
