U.S. Weekly Jobless Claims Fall By 4,000 To 226,000
Editor's Note: Updating earlier story with more details from report.
(Kitco News) - Initial U.S. jobless claims fell by 4,000 to a seasonally adjusted 226,000 in the week to Saturday, the Labor Department said Thursday.
Consensus forecasts compiled by various news organizations called for initial claims to be around 228,000 to 229,000. The government revised the prior week’s tally to 230,000 claims from the previously reported 231,000.
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 750 claims to 221,500.
Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, increased by 4,000 to a seasonally adjusted 1,879,000 during the week ending March 3, the government said. The four-week moving average fell by 17,250 to 1,890,750.
Traders monitor jobs data closely to gauge how aggressively the U.S. Federal Open Market Committee alters monetary policy.