Weekly Unemployment Benefit Filings Fall to 219,000 for First Time

On September 19, the Labor Department reported that a seasonally adjusted total of 219,000 individuals applied for unemployment benefits last week, marking the lowest figure for initial claims since May.

The reported number for the week ending September 14 reflects a decrease of 12,000 initial applications compared to the prior week. This marks the third decline in initial claims over the last four weeks, indicating some stability in the labor market.

The weekly statistics on unemployment claims provide an insightful peek into the health of the workforce. Notably, claims for first-time jobless benefits have remained above 220,000 since May 18, when the figure was recorded at 216,000. Earlier in the summer, on July 27, initial claims surged to 250,000, the highest level noted in 2024. In contrast, in January, the number had dipped to as low as 194,000 in a single week.

The four-week moving average for initial jobless claims now stands at 227,500, showing a reduction of 3,500 from the revised figure of 231,000 from the prior week.

Additionally, for the week ending September 7, the total number of unemployment insurance claims reached 1.829 million, which is a decrease of 14,000 from the previous week. The four-week moving average for overall claims for jobless benefits is now at 1,844,250, reflecting a decline of 6,500 from the prior week’s revised average of 1,850,750.