US weekly unemployment claims fall

The number of Americans filing new unemployment claims fell in the week ending August 31, reflecting a continued low rate of layoffs.

The US Department of Labour’s weekly jobless claims report, released on Thursday, showed a decline in initial claims to the lowest level since early July.

Initial claims for state unemployment benefits fell by 5,000 to a seasonally adjusted 227,000 for the week ending August 31.

The data aligns with the Federal Reserve’s recent Beige Book report, which described employment levels as “generally flat to up slightly” in recent weeks.

The number of people receiving ongoing unemployment benefits also decreased, indicating a strong job market.

Attribution: US Department of Labour