Initial Claims decreased to 445,000, for the week ending 10/02, against the expected decrease to 454,000, after decreasing to 456,000, the revised level for the previous week. The 4-week moving average decreased to 455,750, from the previous week’s revised average of 458,750. Seasonally adjusted insured unemployment from the prior week, ending on 09/25, was 4,462,000, a decrease of 48,000 from the preceding week’s revised level of 4,510,000. Seasonally adjusted insured unemployment rate from the week ending on 09/25, was 3.5%, a decrease of 0.1% from the previous week’s revised figure of 3.6%. Tomorrow, the monthly employment situation is scheduled for release by the Bureau of Labor Statistics at 8:30 AM EST and the unemployment rate is expected to increase to 9.7% for September from 9.6% recorded in August.
Consumer Credit figures are to be released today at 3:00 PM EST. Consumer credit had decreased at an annual rate of 1.75% in July. Revolving credit had decreased at an annual rate of 6.25%, and non-revolving credit increased at an annual rate of 0.5%.
Upcoming Releases
Consumer Credit (10/07 at 3:00 PM EST)
Unemployment Rate (10/08 at 8:30 AM EST)
Wholesale Inventories (10/08 at 10:00 AM EST)
FOMC Minutes (10/12 at 2:00 PM EST)
