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U.S. Weekly Jobless Claims Fall By 2,000 To 236,000

Kitco News

(Kitco News) - Initial weekly U.S. jobless claims fell by 2,000 to a seasonally adjusted 236,000 in the week to Saturday, the Labor Department said Thursday. The tally was lower than forecast.

Consensus expectations compiled by various news organizations called for initial claims to be around 242,000 to 245,000. The government did not revise prior week’s tally of 238,000.

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 500 claims to 243,500.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, decreased by 61,000 to a seasonally adjusted 1,918,000 during the week ending April 29, the government said. The four-week moving average fell by 27,500 to 1,965,500.

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

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