Great news! as unemployment claims drop to 339,000 lowest since 2008. Well below expectations.
Today’s data fits with the improvement in the labor market seen in the latest monthly jobs report issued last Friday. The U.S. added 114,000 net jobs in September and the unemployment rate fell below 8% for the first time since President Barack Obama took office. [...]Looks really good. So lets get this out there. Sets up some good talking points for Biden!
In the week of Sept. 29, the number of people who continued to receive benefits under state unemployment programs declined 15,000 to a seasonally adjusted 3.27 million. The four-week average of continuing claims fell by 7,750 to 3.28 million.
About 5.0 million people received some kind of state or federal benefit in the week ended Sept. 22, down 43,970 from the prior week. Total claims are reported with a two-week lag. There were 6.8 million people receiving benefits in the same week in 2011.