(Sharecast News) - Americans lined up for unemployment benefits at a decelerated pace last week, according to fresh data from the Department of Labor, marking the lowest figure in two months.
Initial jobless claims dropped by 14,000 to a seasonally adjusted 218,000 in the week ended 20 September, better than consensus forecasts of a rebound to 235,000, while continuing claims, which track those still receiving benefits, dropped by 2,000 to 1.926m, the lowest level since late May.

The four-week moving average, which aims to strip out week-to-week volatility, came to 237,500, down by 2,750 from the previous week's upwardly revised print. The insured unemployment rate held steady at 1.3%.

The data helped ease fears of a sharp downturn in the labour market, following a string of downbeat jobs reports that had prompted the Federal Reserve to resume rate cuts despite lingering inflationary pressures.





Reporting by Iain Gilbert at Sharecast.com

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