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U.S. Jobless Claims Rise 9,000 To 227,000

Kitco News

(Kitco News) - Labor Department data Thursday showed that initial weekly U.S. jobless claims rose by 9,000 to a higher-than-expected seasonally adjusted 227,000 in the week to Saturday.

Consensus forecasts compiled by various news organizations had called for initial claims to be around 220,000. The government left the prior week’s tally unrevised at the previously reported 218,000.

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 1,000 claims to 222,000.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, decreased by 21,000 to a seasonally adjusted 1,705,000 during the week ending June 16, 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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