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U.S. Weekly Jobless Claims Fall To 243K

Kitco News

(Kitco News) - Initial weekly U.S. jobless claims fell by 15,000 to a seasonally adjusted 243,000 in the week to Saturday, the Labor Department said Thursday.

Consensus expectations compiled by various news organizations called for initial claims to be around 251,000. The government revised the prior week’s tally down by 2,000 to 258,000.

Traders monitor jobs data closely to gauge how aggressively the U.S. Federal Open Market Committee alters monetary policy.

Meanwhile, the four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it smoothens out week-to-week volatility – fell by 9,500 claims to 257,500.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, dropped by 32,000 to a seasonally adjusted 1.89 million during the week ending Sept. 30, the government said.

“This is the lowest level for insured unemployment since December 29, 1973 when it was 1,805,000,” the report said.

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