US initial jobless claims dropped -10k to 203k in the week ended September 1, well below expectation of 214k. Also, that’s another lowest level since 1969 scored. And it’s indeed just 1k above that 202k in the week of December 6 that year. Four-week moving average of initial claims dropped -2.75k to 209.5k, lowest since December 6 1969 too (204.5k).
Continuing claims dropped -3k to 1.707m in the week ended August 25. Four-week moving average of continuing claims dropped 013.25k to 1.7185m, lowest since December 8 1973.
Also released, US nonfarm producitivty was finalized at 2.9% in Q2, unit labor cost at -1.0%. Canada building permits dropped -0.1% mom in July.
