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U.S. Weekly Jobless Claims Rise To 278K

By Kitco News
Thursday February 5, 2015 8:30 AM

(Kitco News) - First-time weekly jobless claims in the U.S. rose by 11,000 to a seasonally adjusted 278,000 during the week to Saturday, the Labor Department said Thursday.

The data was below economists' expectations, which according to consensus forecasts were for claims to rise to 287,000. Last week's claims were revised up by 2,000 to 267,000.

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 6,500 claims to 292,750.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, rose by 6,000 to a seasonally adjusted 2.4 million during the week ending Jan. 24.

By Neils Christensen of Kitco News nchristensen@kitco.com

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 precious metal products, 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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U.S. Weekly Jobless Claims Rise To 278K

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