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U.S. Weekly Jobless Claims Rise 20,000 To 245,000

Kitco News

(Kitco News) - Initial weekly U.S. jobless claims rose by 20,000 to a seasonally adjusted 245,000 in the week to Saturday, the Labor Department said Thursday. This was above most forecasts.

Consensus expectations compiled by various news organizations called for initial claims to be around 230,000. The government left the prior week’s tally unrevised at the previously reported 225,000.

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 1,250 claims to 236,000.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, increased by 43,000 to a seasonally adjusted 1,932,000 during the week ending Dec. 9, the government said. The four-week moving average rose by 4,250 to 1,923,000.

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