Highlights
Initial jobless claims indicate stronger demand for labor, as claims fell 9,000 to a lower-than-expected level of 311,000. Data are for the Sept. 15 week which is also the survey week for the monthly employment report. A month-to-month survey week comparison shows sizable strength in September, at 311,000 vs. 325,000 for the Aug. 18 week. The latest four week average, at 320,750, shows less strength. Continuing claims for the Sept. 8 week fell 53,000 to 2.544 million, offering their strongest signal since early August. But the four-week average, like it is for initial claims, is still on the high side at 2.577 million. Treasury prices dipped and the dollar firmed in reaction to the report which will raise expectations for a resumption of strength in payroll growth.