For all practical purposes, stasis with slight hints of improvement.
First-time claims for unemployment insurance fell by 31,000 to 292,000 in the week ended Sept. 7, which also included the Labor Day holiday, a Labor Department report showed today in Washington. The median forecast in a Bloomberg survey called for 330,000 applications.
The decrease in filings doesn’t signal a change in job-market conditions because most of it was caused by computer-network conversions in the two states, according to a Labor Department spokesman.
Estimates for jobless claims in the Bloomberg survey of 50 economists ranged from 315,000 to 350,000. The four-week moving average of claims, a less volatile measure than the weekly figures, fell to 321,250 last week, the lowest since October 2007, from 328,750.
I was late checking the news of the jobbed and jobless because I had somewhere to go and something to do.