Sept. 5 (UPI) — The number of people filing for unemployment benefits for the first time last week fell by 5,000 for its lowest total in two months and the survey continues to recover from its highest filing of the year.
A seasonally adjusted 227,000 people made initial unemployment insurance applications for the week ending Aug. 31, the lowest total since 223,000 filed for the first time for the week ending July 6.
First-time jobless filings had reached 250,000 for the week ending July 26, the highest one-week total this year.
The weekly unemployment benefits filings compiled by the Labor Department is a snapshot of the country’s workforce stability that the Federal Reserve watches along with other factors.
The four-week moving average for first job jobless benefit filings came in at 230,000, a drop of 1,750 from the revised figure of 231,750 the week before.
Qualified unemployed workers can apply for benefits for 26 weeks in one year. The overall number of people currently filing for jobless benefits for the week ending Aug. 24 was 1.8 million, a decrease of 22,000 from the previous week.
The four-week moving average for the overall unemployment benefits filing was 1.9 million, an 8,250 decrease from the previous week’s revised total of 1,861,250. The number was revised down 2,000 from the week before.
