In the week ending September 3, the advance figure for seasonally adjusted initial claims was 222,000, a decrease of 6,000 from the previous week's revised level. The previous week's level was revised down by 4,000 from 232,000 to 228,000. The 4-week moving average was 233,000, a decrease of 7,500 from the previous week's revised average. The previous week's average was revised down by 1,000 from 241,500 to 240,500. The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending August 27, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted ... (full story)

The number of new applications for unemployment benefits dropped by 6,000 to 222,000 last week, the lowest since June, the Labor Department reported Thursday, defying fears of a recession. Falling jobless claims, a proxy for layoffs, are a sign that the economy is still adding jobs despite the Federal Reserve's efforts to tighten monetary policy to slow economywide spending and bring down inflation. In recent weeks, jobless claims have ticked down slightly even though gross domestic product growth has turned negative and the housing market has been upended by rising interest rates. Still, the number of new claims for ... (full story)