Fewer Americans applied for initial jobless claims in the September 17 week

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Fewer Americans applied for initial jobless claims in the September 17 week though today's report is mixed. The week-to-week change, at minus 9,000, is a good indication but the 423,000 level is 3,000 higher than the Econoday consensus and reflects a 4,000 upward revision to the prior week to 432,000. Another negative is the fifth straight rise in the four-week average, though the latest gain is minimal to 421,000 vs a revised 420,500 in the prior week. Still, a look back to mid-August shows the four-week average at 403,500 in a comparison that points to trouble for the September employment report.