US jobless claims fall to lowest level since July

Applications for unemployment benefits in the US fell again in the week endend 17 September. The US labor market confirms the solidity, keeping unemployment at the lowest level since 1973.

Claims slide by 8.000 units to 252 000 from 260 thousand the previous week's unrevised. Analysts' forecasts were instead for a small increase to 262 thousand units. The streak below 300k estends to 81 consecutive weeks, the longest since 1970.

The four-week moving average – according to data of the US Department of Labor – decreased at 258,500 units, down 2,250 from the previous week. This date is considered a more accurate reporting of the health status of the labor market indicator, because it smoothes out the strong weekly fluctuations observed.

Finally, in the week ending September 10, continuing claims fell by 36.000 to 2.113 million. The four-week average of continuing claims fell by 8.000 to 2,140 units, down nearly 6% from a year ago.

"The labor market remains rock solid," Stephen Stanley, chief economist at Amherst Pierpont Securities, wrote in a research note.