US Jobless Claims Continue to Show Steady Improvement

The US labor market continued to show signs of recovery as initial claims for state unemployment benefits edged down by 1,000 to a seasonally adjusted 206,000 for the week ended September 5.

This marks the third straight week that new jobless claims have remained in a narrow range between 189,000 and 212,000 since mid-July.

The Labor Department reported that nonfarm payrolls jumped 162,000 jobs in August, the largest gain in five months. The unemployment rate was unchanged at 4.1%.