U.S. Weekly Jobless Claims Rise 13,000 To 248,000
(Kitco News) - Initial weekly U.S. jobless claims rose by 13,000 to a seasonally adjusted 248,000 in the week to Saturday, the Labor Department said Thursday. The total was above forecasts.
Consensus expectations compiled by various news organizations called for initial claims to be around 239,000. The government revised the prior week’s tally to 235,000 claims from 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 238,000.
Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, decreased by 9,000 to a seasonally adjusted 1,915,000 during the week ending May 20, the government said. The four-week moving average fell by 16,000 to 1,914,500.
Traders monitor jobs data closely to gauge how aggressively the U.S. Federal Open Market Committee alters monetary policy.