Initial Jobless Claims 289k after revised 313k
Intial Jobless Claims came in at 298k, a decrease of 15,000 from a upwardly revised 313k. Intial Claims came in well below the expected 316k and at the lowest level since May 2007. Continuing Claims were at 2.551mln, an increase of 11k from the revised 2.54mln. California saw the largest increase for the week ending September 15 at over 5300 coming, unsurprisingly, from the construction and service industries. Florida initial claims increased over 3500 with losses in construction, trade, service, manufacturing and agriculture. Michigan claims fell by over 2700 due to fewer layoffs in the automobile industry.