U.S. Jobless Claims Fall To Lowest Level Since 1969
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(Kitco News) - U.S. jobless claims fell by 10,000 to a seasonally adjusted 210,000 in the week to Saturday, the lowest level since late 1969, Labor Department said. The total was below forecasts.
Consensus expectations of economists, as compiled by various news organizations, called for initial claims to be around 226,000 to 230,000. The government revised the prior week’s tally to 220,000 claims from the previously reported 222,000.
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 5,000 claims to 220,500.
Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, increased by 57,000 to a seasonally adjusted 1,931,000 during the week ending Feb. 17, the government said. The four-week moving average fell by 6,250 to 1,920,000.
Traders monitor jobs data closely to gauge how aggressively the U.S. Federal Open Market Committee alters monetary policy.