U.S. initial jobless claims surged by 27k to 263k in the week ending September 6, well above expectations of 240k and marking the highest level since October 2021. The four-week moving average rose 10k to 241k, pointing to a clear softening trend in labor market conditions.
Continuing claims were steady at 1.939 million for the week ending August 30, with the four-week average slipping slightly to 1.936 million. Still, the rise in new claims highlights a labor market that is starting to cool more decisively, adding pressure on the Fed as it weighs the pace of policy easing.
