A report released by the Labor Department on Thursday unexpectedly showed another modest decrease in first-time claims for U.S. unemployment benefits in the week ended September 10th.
The Labor Department said initial jobless claims slipped to 213,000, a decrease of 5,000 from the previous week’s revised level of 218,000.
Economists had expected jobless claims to inch up to 226,000 from the 222,000 originally reported for the previous week.
With the unexpected dip, jobless claims fell to their lowest level since hitting 202,000 in the week ended May 28, 2022.
The report also showed the less volatile four-week moving average edged down to 224,000, a decrease of 8,000 from the previous week’s revised average of 232,000.
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