Jobless Claims Rise Slightly, Insured Unemployment Rate Falls to All-Time Low 1.1%

The Labor Department reported initial jobless claims rose 3,000 to a seasonally adjusted 213,000. While that slightly missed the forecast, the insured unemployment rate fell to an all-time low.

Forecasts were looking for a low 202,000 to a high of 213,000 The consensus forecast was 211,000.

The advance seasonally adjusted insured unemployment rate fell to 1.1% for the week ending September 14, setting a new record low. The advance number for seasonally adjusted insured unemployment fell 15,000 during the week ending September 14 was 1,650,000. The 4-week moving average fell 12,750 to 1,665,750.

The Labor Department also said no state was triggered “on” the Extended Benefits program during the week ending September 7.

The highest insured unemployment rates in the week ending September 7 were in New Jersey (2.1), Puerto Rico (2.0), California (1.7), Connecticut (1.6), Pennsylvania (1.6), Alaska (1.5), Illinois (1.5), the Virgin Islands (1.4), Massachusetts (1.3), Nevada (1.3), and New York (1.3).

The largest increases in initial claims for the week ending September 14 were in California (+3,879), Georgia (+1,563), Florida (+1,530), South Carolina (+1,246), and New York (+1,048), while the largest decreases were in Arkansas (-773), Illinois (-566), Michigan (-415), Wisconsin (-232), and Massachusetts (-227).

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