Jobless claims jumped 27k to 263k in the week ending September 6, above expectations of 235k and the highest weekly total since October 2021.

• On an NSA basis, initial claims increased +7.9k to 204.6k, remaining above the 178.7k level from the same week last year.
• The 4-week moving average of initial claims (SA) rose +9.8k to 240.5k, showing an upward shift compared with both the prior week (230.8k) and the same period last year (230.5k).
• Insured unemployment (SA) was unchanged at 1.939 million in the week ending August 30, close to the prior year level of 1.845 million.
• On an NSA basis, insured unemployment fell -77.7k to 1.814 million, but still compared above the year-ago level of 1.705 million.
• The 4-week moving average of continuing claims (SA) edged down -750 to 1.946 million, little changed overall.
• The insured unemployment rate held at 1.3% (SA) and 1.2% (NSA), showing stability versus both the prior week and prior year.
• Federal employee claims (UCFE, NSA) ticked up +12 to 527 in the week ending August 30, nearly double the 269 claims recorded a year earlier.