U.S. Jobless Claims Rose 16K to 351K in Sept. 18 Week
By Gwynn Guilford
Jobless claims climbed slightly last week, as demand for workers
keeps a lid on layoffs and the economic recovery shows signs it is
holding up during the latest Covid-19 surge.
Initial unemployment claims, a proxy for layoffs, rose by 16,000
to a seasonally adjusted 351,000 last week from a revised 335,000
the prior week. The four-week moving average for initial claims,
which smooths out weekly volatility, declined slightly and remained
at its lowest level since the Covid-19 crisis began last year.
Recent claims figures could have been affected by disruptions
from storms such as Hurricane Ida, economists said.
Filings for unemployment benefits have fallen steadily since
mid-July as employers retain workers despite the Delta variant. "We
expect that the downward trend that we've been seeing for a while
will resume," said Nancy Vanden Houten, lead economist at Oxford
Economics. "The big picture is that we expect the labor market
recovery will continue."
Write to Gwynn Guilford at email@example.com
(END) Dow Jones Newswires
September 23, 2021 09:03 ET (13:03 GMT)
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