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US weekly jobless claims fall to 840,000, more than economist forecasts

US weekly jobless claims fall to 840,000, more than economist forecasts

  • New US jobless claims for the week that ended Saturday totaled 840,000, the Labor Department said Thursday. The reading landed above the consensus economist estimate of 820,000 but marked a slight decline from the previous week’s revised figure.
  • Continuing claims, which track Americans receiving unemployment benefits, fell to 11 million for the week that ended September 26. That was also lower than economist expectations.
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The number of Americans filing for unemployment benefits edged lower last week in a modestly encouraging sign for the labor market’s prolonged recovery.

New US weekly jobless claims totaled an unadjusted 840,000 for the week that ended Saturday, the Labor Department announced Thursday. That reading came in above the median economist estimate of 820,000 compiled by Bloomberg, but reflects a slight decrease from the previous week’s revised figure.

Continuing claims, which track the aggregate total of Americans receiving unemployment benefits, declined to 11 million for the week that ended September 26. The reading came in below the median economist estimate of 11.4 million.

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Thursday’s report holds “a mix of worrisome and hopeful readings” on the nation’s labor market, Nancy Vanden Houten, lead US economists at Oxford Economics, said. On one hand, the number of Americans receiving regular state benefits fell by 1 million in the week ended September 26.

Yet “the number of individuals who have exhausted regular benefits continues to climb, further evidence of more long-lasting scarring effects from the pandemic,” she added.

The roughly 64 million unemployment-insurance filings made since early February handily overshadow the 37 million filings made during the 18-month long

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