US initial jobless claims rise to 235,000 in Goldman analysis
Published in Business News
Applications for U.S. unemployment benefits rose last week, according to a Goldman Sachs Group Inc. analysis of state-level filings released during the federal government shutdown.
Initial claims rose to about 235,000 in the week ended Oct. 4 from the bank’s estimate of roughly 224,000 the prior week, Goldman Sachs economists led by Jan Hatzius said in a note to clients. The bank used the Labor Department’s pre-released seasonal factors to adjust the available raw state-level figures.
The Labor Department did not publish its weekly report Thursday due to the government shutdown, but it did release downloadable data for most states.
Continuing claims, a proxy for the number of people receiving benefits, ticked up to 1.92 million in the week ended Sept. 27 from the prior week’s estimated 1.91 million, the economists found.
Goldman Sachs economists estimated initial claims for Hawaii and Massachusetts, and assumed those applications were in line with the latest published numbers.
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