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U.S. Jobless Claims Fall 6,000 To 213,000

Kitco News

(Kitco News) - U.S. initial weekly U.S. jobless claims fell by 6,000 to a seasonally adjusted 213,000 in the week to Saturday, the government said Thursday. This was below forecasts.

Consensus expectations compiled by various news organizations had called for initial claims to be around 217,000 to 220,000. The Labor Department revised the prior week’s tally to 219,000 from 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 down by 500 claims to 214,250.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, increased by 29,000 to a seasonally adjusted 1,755,000 during the week ending July 28, the government said.

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

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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