U.S. Jobless Claims Fall 6,000 To 213,000
(Kitco News) - U.S. initial weekly U.S. jobless claims fell by 6,000 to a seasonally adjusted 213,000 in the week to Saturday, the government said Thursday. This was below forecasts.
Consensus expectations compiled by various news organizations had called for initial claims to be around 217,000 to 220,000. The Labor Department revised the prior week’s tally to 219,000 from the previously reported 218,000.
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 down by 500 claims to 214,250.
Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, increased by 29,000 to a seasonally adjusted 1,755,000 during the week ending July 28, the government said.
Traders monitor jobs data closely to gauge how aggressively the U.S. Federal Open Market Committee alters monetary policy.