Unemployment claims remain very stable, low and favorable and they continue to set new milestones. Initial claims came in at 213,000 in the August 25 week vs Econoday's consensus for 214,000 and compared with 210,000 in the prior week.
The 4-week average is down 1,500 to 212,250 for the lowest level since December 1969. This average is running roughly 5,000 below the month-ago comparison which specifically is a positive indication for next week's August employment report.
Continuing claims, in lagging data for the August 18 week, fell 20,000 to 1.708 million with this 4-week average down 5,000 to 1.731 million. The unemployment rate for insured workers is unchanged at only 1.2 percent.