Data for the prior week was revised to show 4,000 fewer applications filed than previously reported.
Unadjusted claims declined 12,642 to 156,060 last week.The claims report showed the number of people receiving benefits after an initial week of aid fell 29,000 to 1.347 million in the week ending Sept.The so-called continuing claims data, a proxy for hiring, covered the week that the government surveyed households for September's unemployment rate.
The unemployment rate rose to 3.7% in August from 3.5% in July.
The Fed last week raised its median forecast for the unemployment rate this year to 3.8% from its previous projection of 3.7% in June.As a result, growth in gross domestic income (GDI), which measures economic activity from incomes earned and the costs incurred in the production of GDP was revised sharply down to a rate of 0.1% from the previously reported 1.4% pace.
The average of GDP and GDI, also referred to as gross domestic output and considered a better measure of economic activity, was revised lower to show it falling at a 0.3% rate instead of rising at a 0.4% pace as previously reported.It declined at a 0.4% rate in the first quarter, revised down from a the previously reported 0.1% growth pace.
The government also revised GDP data from the fourth quarter of 2016 through the end of 2021, which showed the gap between GDP and GDI was only -0.6% of GDP in 2021.