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BOOM: Weekly Jobless Claims Are Much Better Than Expected

Matthew Boesler

Weekly  jobless claims figures for the week ended September 14 are out.

Initial jobless claims were 309,000, up from last week's artificially-depressed number but down from 323,000 the week before that.

Economists predicted a larger rise to 330,000.

Continuing claims in the week ended September 7 unexpectedly fell to 2.787 million from the previous week's upward-revised 2.815 million.

Initial claims for the week ended September 7 were revised up to 294,000 from 292,000.

Last week's sub-300,000 number was due to computer system upgrades in some states that delayed processing of a portion of the claims.

According to Bloomberg, this week's number is artificially depressed as well, as two states were still "working through a backlog of applications that were caused by computer-system changeovers."

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