Initial Jobless Claims Rose More than Expected to 315K Last Week; California, New York Led Gains

(Updated - September 11, 2014 8:39 AM EDT)

Initial Jobless Claims 315K vs 300K Expected

UPDATE - More color from the U.S. Department of Labor:

SEASONALLY ADJUSTED DATA

In the week ending September 6, the advance figure for seasonally adjusted initial claims was 315,000, an increase of 11,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 302,000 to 304,000. The 4-week moving average was 304,000, an increase of 750 from the previous week's revised average. The previous week's average was revised up by 500 from 302,750 to 303,250.
There were no special factors impacting this week's initial claims.

The advance seasonally adjusted insured unemployment rate was 1.9 percent for the week ending August 30, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 30 was 2,487,000, an increase of 9,000 from the previous week's revised level. The previous week's level was revised up 14,000 from 2,464,000 to 2,478,000. The 4-week moving average was 2,498,750, a decrease of 15,500 from the previous week's revised average. This is the lowest level for this average since June 30, 2007 when it was 2,489,500. The previous week's average was revised up by 3,500 from 2,510,750 to 2,514,250.

The largest increases in initial claims for the week ending August 30 were in California (+1,563), New York (+1,254), Iowa (+579), Wisconsin (+412), and Pennsylvania (+362), while the largest decreases were in New Jersey (-901), Illinois (-633), Georgia (-465), Massachusetts (-345), and Kentucky (-324).

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