The data from
the Labour Department revealed on
Thursday the number of applications for unemployment unexpectedly decreased last week.
According to
the report, the initial claims for unemployment benefits dropped by 4,000 to 218,000 for the week ended September 21. This represented the lowest weekly total since
the week ended May 18 (216,000).
Economists had predicted
225,000 new claims last week.
Claims for the prior week were revised upwardly to 222,000
from the original estimate of 219,000.
Meanwhile, the
four-week moving average of jobless claims fell to 224,7500 from an upwardly revised 228,250 (from 227,500) in the
previous week. This was the lowest count since the
week ended June 1 (222,250).
As for continuing claims, they increased to 1,834,000, compared to a downwardly revised 1,821,000 (from 1,829,000) in the previous week.