The U.S. Department of Labor is reporting that an additional 860,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday September 12th. A decrease of 33,000 from the previous week’s revised level. Well below the peak of 6.9 million which dates back to the week ending March 28th. The 4-week moving average was 912,000, a decrease of 61,000 from the previous week’s revised average. This week’s new claims brought the twenty-three-week total to 60.075 million. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending 5th September was 12,628,000, a decrease of 916,000 from the previous week’s revised level. Continuing claims remain below 20 million for the tenth week in a row. The 4-week moving average was 13,489,000 a decrease of 532,750 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 8.6% for the week ending September 5th, a decline of 0.6% the previous week’s revised averages.
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