US initial jobless claims fall to four-month low

Americans lined up for unemployment benefits at a decelerated pace in the week ended 14 September, according to the Labor Department, beating market expectations.

Initial jobless claims fell by 12,000 to 219,000, a four-month low that, while better than market expectations for a reading of 230,000, remained well above the average seen earlier in 2024.

Continuing claims, on the other hand, fell by 14,000 to 1.82m, while the four-week moving average, which aims to strip out week-to-week volatility, fell by 6,436 to 184,845. On a non-seasonally adjusted monthly basis, claims rose by 6,436 to 184,845.

Reporting by Iain Gilbert at Sharecast.com