US Jobless Claims Fall to 218,000 as Q2 GDP Growth Beats Forecasts
Goldman Sachs analysis shows an increase in U.S. jobless claims for the week ending September 27, reflecting seasonal adjustments due to the federal government shutdown.
Summary
U.S. initial jobless claims for the week ending September 27 rose to 224,000, up from the previously reported 218,000. The increase is attributed to seasonal adjustments resulting from the federal government shutdown, which delayed official reports from the Labor Department. Goldman Sachs used state-level data to arrive at this revised figure.
Terms & Concepts
- Initial Jobless Claims: A weekly measure of the number of people filing for unemployment benefits for the first time, used as an indicator of labor market health.
- Federal Government Shutdown: A situation in which the U.S. federal government temporarily halts non-essential services and operations, often due to budgetary disputes, impacting the release of official data.