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Weekly Initial Unemployment Claims increase to 332,000

The DOL reported:
In the week ending September 11, the advance figure for seasonally adjusted initial claims was 332,000, an increase of 20,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 310,000 to 312,000. The 4-week moving average was 335,750, a decrease of 4,250 from the previous week’s revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week’s average was revised up by 500 from 339,500 to 340,000.
emphasis added
This does not include the 28,456 initial claims for Pandemic Unemployment Assistance (PUA) that was down from 94,638 the previous week.

The following graph shows the 4-week moving average of weekly claims since 1971.

Click on graph for larger image.

The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 335,750.

The previous week was revised up.

Regular state continued claims decreased to 2,656,747 (SA) from 2,662,844 (SA) the previous week.

Note (released with a 2 week delay): There were an additional 5,487,233 receiving Pandemic Unemployment Assistance (PUA) that increased from 5,090,524 the previous week (there are questions about these numbers). This is a special program for business owners, self-employed, independent contractors or gig workers not receiving other unemployment insurance.  And were an additional 3,805,795 receiving Pandemic Emergency Unemployment Compensation (PEUC) up from 3,805,008.

Weekly claims were higher than the consensus forecast.

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