Jobless Claims Rise 12,000 to 282,000 in Aug. 29 Week

WASHINGTON — Initial unemployment claims were reported up 12,000 to 282,000 in the August 29 week.

This is at the high end of their recent range.

There were no special factors and no estimates. The August average for claims was 276,000, so the latest reading is not far off the norm, and probably does not indicate any real deterioration in the demand for labor. Claims averaged 268,000 in July and 275,000 in June.

In addition, the upcoming Labor Day holiday might cause some erratic movements in claims. Workers might not file around the holiday, only to surge into the system later. This means there could be a down-up-lower move in claims over the next several weeks, with no policy implications. It will be several weeks before the possible impact of the moves in world markets show any effect.

Continuing unemployment claims were down 9,000 to 2.257 million in the August 22 week. These lag reporting for initial claims, but have been in a downtrend this year.

Market News International is a real-time global news service for fixed-income and foreign exchange market professionals. See www.marketnews.com.

Market News International is a real-time global news service for fixed-income and foreign exchange market professionals. See www.marketnews.com.
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