WASHINGTON -- Initial claims U.S. state unemployment benefits fell by 12,000 to 260,000 in the Sept. 30 week, below the 266,000 level expected, data released by the Labor Department Thursday showed.
Unadjusted filings in Texas fell by 3,040, while filing were down 3,765 in Florida, down by 2,180 in Georgia, and down 175 in Puerto Rico, the only state estimated. Claims were up 971 in the Virgin Islands to 1,039, a huge gain from 68 in the previous week.
While the level of filings remains elevated, it appears the major impact of the hurricanes has started to pull back.
The four-week moving average for initial claims, a better measure of the underlying trend of the data, fell by 9,500 to 268,250 in the Sept. 30 week, as the recent peak of 298,000 in the September 2 week rolled out of the calculation. The average could fall further next week, as the 281,000 level in the September 9 week will drop out.
Seasonal adjustment factors had expected an increase of 0.5%, or 1,089, in unadjusted claims. Instead, unadjusted claims fell by 8,378 to 206,653. The current week's level is still ahead of the 200,456 level in the comparable week a year ago.
The level of continuing claims rose by only 2,000 to 1.938 million in the Sept. 23 week.
The seasonally adjusted insured unemployment rate held steady at 1.4% in the Sept. 23 week for the 25th straight week. The current week's rate is down from 1.5% in the same week a year earlier.
The unemployment rate among the insured labor force is well below that reported monthly by the Labor Department because claims are approved for the most part only for job losers, not the job leavers and labor force reentrants included in the monthly report.
