News Bites
U.S. Jobless Claims Decline 18,000 To 214,000
(Kitco News) - U.S. initial weekly U.S. jobless claims fell by 18,000 to a seasonally adjusted 214,000 in the week to Saturday. The total was below expectations of economists.
Consensus forecasts compiled by various news organizations had called for initial claims to be around 226,000. The government revised the prior week’s tally to 232,000 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 1,750 claims to 223,000.
Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, decreased by 3,000 to a seasonally adjusted 1,739,000 during the week ending June 30, the government said.
Traders monitor jobs data closely to gauge how aggressively the U.S. Federal Open Market Committee alters monetary policy.
