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U.S. Jobless Claims Fall To Lowest Level Since 1969

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U.S. Jobless Claims Fall To Lowest Level Since 1969

(Kitco News) - Labor Department data Thursday showed that initial weekly U.S. jobless claims fell by 10,000 to a seasonally adjusted 203,000 in the week to Saturday. This was the lowest tally since December 1969, the Labor Department said.

Consensus expectations compiled by various news organizations had called for initial claims to be around 212,000 to 213,000. The government left the prior week’s tally unrevised at the previously reported 213,000.

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 2,750 claims to 209,500.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, decreased by 3,000 to a seasonally adjusted 1,707,000 during the week ending Aug. 25, 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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