District of Columbia

WASHINGTON, D.C. — Another 840,000 Americans filed for first-time unemployment insurance assistance for the week ending Oct. 3, the U.S. Department of Labor reported Thursday. The most recent figure represents the lowest weekly total of first-time claims since the coronavirus caused a nationwide shutdown in mid-March. Economists surveyed by Dow Jones expected 825,000 claims for the week. The figure for the week ending Oct. 1 is down slightly from the prior week’s revised number, when 849,000 Americans filed for assistance. The four-week moving average decreased by 642,000 claims, to slightly over 12.1 million. Continuing claims, for which data is a week behind, totaled nearly 11 million for the week ending Sept. 29. That figure is a decrease of more than 1 million claims from the prior week.

WASHINGTON, D.C. — Initial weekly jobless claims totaled 837,000 for the week ending Sept. 26, the U.S. Department of Labor reported Thursday. Although still historically high, the number of claims is the lowest since the onset of the coronavirus pandemic in mid-March. Economists surveyed by Dow Jones expected the total number of Americans filing for unemployment insurance to total 850,000 for the week. The most recent figure is a decrease of 36,000 claims from the previous week’s revised total. The four-week moving average also decreased, moving downward by 381,250 claims to just over 12.7 million. Continuing claims — for which data is a week behind — fell by 980,000 claims to nearly 11.8 million for the week ending Sept. 19.

WASHINGTON, D.C. — An additional 870,000 Americans have filed for first-time unemployment assistance during the week ending Sept. 19, the U.S. Department of Labor reported Thursday. The most recent figure is a slight increase from the previous week, when initial claims totaled 866,000. Economists surveyed by Dow Jones were surprised by the rise in claims, as they were expecting claims to total 850,000. The four-week moving average, however, decreased by 35,250 to 878,250 claims. Continuing claims, for which data is a week behind, totaled nearly 12.6 million for the week ending Sept. 12. The most recent number available is a decrease of 167,000 claims.

WASHINGTON, D.C. — The Federal Reserve plans to keep the target range for the federal funds rate between 0 and 0.25 percent until the end of 2023 due to economic activity and employment being well below that of the beginning of the year. The Washington, D.C.-based committee outlined economic conditions it wishes to see before raising rates, the main condition being inflation to exceed 2 percent “for some time.” Due to the COVID-19 outbreak, the Fed says the labor market will also need to return to “maximum employment” before raising interest rates again. The Fed expects to maintain an accommodative stance of monetary policy, which include increasing its holdings of Treasury securities and agency mortgage-backed securities. The Fed says its plan, which was made during the Federal Open Market Committee (FOMC) meeting earlier this week, is dependent on the length and severity of the coronavirus pandemic.