- Prior week 231K revised to 232K
- prior week continuing claims 1.868M
- initial jobless claims 227K versus 230K estimate
- 4-week moving average of initial jobless claims 230K vs 231.75K last week
- Continuing claims 1.838M versus 1.865M estimate
- 4-week moving average of continuing claims 1.853M vs 1.861M last week
- The largest increases in initial claims for the week ending August 24 were in New York (+2,604), Michigan (+1,322), Georgia (+1,166), North Dakota (+992), and Massachusetts (+748),
- The largest decreases were in Texas (-1,515), Florida (-1,313), California (-965), Washington (-522), and Virginia (-517).
The continuing claims falling is good news for jobs. THe initial jobless claims stays steady but off the 250K spike last month.The markets are taking a sigh of relief as Unit Labor costs revised for the 2Q were also lower at 0.4% from 0.8% preliminary, while productivity rose to 2.5% from 2.3%
The NASDAQ is still down -90 point as projected by the futures, but is off the premarket session lows after the ADP.. The 2- year yield is still down -4.1 basis points while the 10 year is down -3.2 basis points.
