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U.S. Jobless Claims Fall By 13,000 To 221,000

Kitco News

(Kitco News) - U.S. initial weekly jobless claims fell by 13,000 to a seasonally adjusted 221,000 in the week to Saturday, the Labor Department reported Thursday.

Consensus expectations compiled by various news organizations had called for initial claims to be around 2224,000 to 225,000. The government left the prior week’s tally unrevised at the previously reported 234,000.

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 – was up by 2,500 claims to 222,250.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, decreased by 16,000 to a seasonally adjusted 1,726,000 during the week ending May 19, the government said.

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

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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