The number of first-time filers for unemployment benefits were slightly higher than expected last week as the labor market continues its sluggish recovery from the coronavirus pandemic.
The Labor Department reported Thursday that initial jobless claims for the week ending Sept. 19 came in at 870,000, adjusted for seasonal fluctuations. Economists polled by Dow Jones expected first-time claims at 850,000, down slightly from the previous week's 860,000.
Without the adjustment, about 825,000 people filed last week, up from the previous week's 796,000. More than 6 million people a week filed during the peak of the layoffs in the spring, when Congress approved $600 a week in supplemental benefits. The supplemental benefits expired this summer.
"Bottom line, we have a mix of people going back to work because they are now greater incentivized to do so without the extra $600 per week and those that are still challenged in finding a job that matches their skills in this unfortunate pandemic landscape," said Peter Boockvar, chief investment officer at Bleakley Advisory Group.
New York and Georgia saw the biggest week-over-week increases in initial claims, the department said. Claims in New York jumped by more than 9,000 last week and first-time filers in Georgia rose by more than 6,000.
Thursday's data comes as U.S. lawmakers struggle to move forward with a new fiscal stimulus package, something economists and the Federal Reserve argue is needed for the economic recovery to continue.
On Wednesday, Fed Chairman Jerome Powell called for more fiscal support, telling lawmakers: "We've come a long way pretty quickly, and that's great. But there's a long way to go. So I just would say we need to stay with it, all of us. The recovery will go faster if there's support coming both from Congress and from the Fed."
U.S. stock futures extended their earlier losses after the data release. Dow Jones Industrial Average futures traded 175 points lower, or 0.7%.
"Claims, arguably the most important high frequency data point currently, missed expectations and moved up," Evercore ISI analyst Dennis DeBusschere said in a note. "Net net, with the Fed diminishing its own credibility by continually emphasizing the ineffectiveness of monetary policy and begging for fiscal support, weaker data will have a big impact on risk assets."
Continuing claims, which include those receiving unemployment benefits for at least two straight weeks, decreased by 167,000 to 12.58 million during the week ending Sept. 12. Continuing claims data is delayed by one week.
tinyurlis.gdv.gdv.htu.nuclck.ruulvis.netshrtco.detny.im
مقالات مشابه
- Man Accused Of Carrying Beef Attacked With Hammer In Gurgaon, Cops Watch
- $600 مزایای بیکاری هستند 'صرفه جویی در زندگی" برای این پیشخدمت: "من درست در لبه'
- نرخ وام مسکن فقط آمار یک رکورد دیگر کم و در اینجا چقدر پایین تر آنها می توانند
- BJP فایل های شکایت علیه Randeep Surjewala بر "جعلی" کلیپ های صوتی
- دانشمندان اولین تکامل دندان های انسان را در گونه های باستانی خزندگان ردیابی می کنند
- خرید جم کلش اف کلنز ارزان Clash Of Clans ⭐ - ایران موجو
- دولت منابع مقابله با مغلوب ساختن پیشی جستن ادعای چت با PM در چین
- درباره تاریخچه کاشی چه میدانید؟
- آنتونیو براون در اواسط مسابقه باکنیرز را ترک کرد، لنت ها را برداشت و زمین را ترک کرد
- خانه می فرستد چین تحریم لایحه به مغلوب ساختن پیشی جستن میز به عنوان تنش تشدید