Highlights
First-time jobless claims rose 10,000 in the Sep. 13 week to a roughly as-expected 455,000. The four-week average rose 5,000 to 445,000. The Labor Department told Market News International that first-time claims would have fallen in the week excluding a jump in filings from Louisiana, the result of Hurricane Gustav and the inability of residents to file during the prior two weeks. But this report is clouded by other uncertainties including filings related to Hurricane Ike and the government's emergency efforts to widen those eligible for unemployment benefits.

Still, some readings in the report appear to justify some hope that losses in the labor market are not increasing. Continuing claims in the Sep. 6 week fell 55,000 to 3.478 million. Improvement in continuing claims for the Sep. 13 week, a key week that matches the Labor Department's survey week for the household employment report, could help establish expectations for improvement in September payrolls. A month-to-month comparison of survey weeks for first-time claims is mixed, showing a 20,000 rise from the Aug. 16 week but a slight drop in the four-week averages. Markets, focused on liquidity in the banking system, showed no significant reaction to the report.