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U.S. Jobless Claims Fall By 13,000 To 221,000

Kitco News

(Kitco News) - U.S. initial weekly jobless claims fell by 13,000 to a seasonally adjusted 221,000 in the week to Saturday, the Labor Department reported Thursday.

Consensus expectations compiled by various news organizations had called for initial claims to be around 2224,000 to 225,000. The government left the prior week’s tally unrevised at 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 222,250.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, decreased by 16,000 to a seasonally adjusted 1,726,000 during the week ending May 19, the government said.

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

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