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HOME > Analysis >Story Stocks >Initial Claims Down, but...
Story Stocks® Archive
Last Update: 27-Sep-12 09:23 ET
Initial Claims Down, but Range-bound
Initial claims for the week ended September 22 fell by 26,000 to 359,000. That was comfortably below the Briefing.com consensus estimate of 379,000 and dropped the four-week moving average to 374,000 from 378,500. The weekly improvement is nice to see, yet it is consistent with an initial claims level that has remained bounded between 350,000 and 400,000 for some time now. It is evident that the pace of layoffs has slowed, yet monthly employment reports have made it clear that businesses are not actively hiring. That makes it challenging to draw any clear-cut conclusions about the latest weekly number. Continuing claims for the week ended September 15 fell slightly to 3.271 mln (Briefing.com consensus 3.270 mln). The four-week moving average for that series decreased by 15,000 to 3.296 mln.
Initial claims for the week ended September 22 fell by 26,000 to 359,000. That was comfortably below the Briefing.com consensus estimate of 379,000
 
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