Employment data continue to send mixed signals about labor market conditions as the number of Americans filing new applications for unemployment benefits declined to a one-month low.
For the week ending Sept. 13, initial jobless claims fell by 33,000 to 231,000, the lowest level since the middle of August, according to new Department of Labor data released on Sept. 18. This represented the sharpest weekly drop in nearly four years.
The previous week’s claims were revised slightly higher to 264,000. The market consensus pointed to a reading of 240,000 new weekly jobless claims.
The four-week average, which removes noise from week-to-week volatility, was little changed at 240,000….