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Weekly Jobless Claims Fall to 215K

Kitco News

(Kitco News) - The U.S. Labor market found some momentum last week as the Labor Department reported stronger-than-expected jobless claims ending a three-week losing streak week.

Initial weekly U.S. jobless claims fell by 23,000 to a seasonally adjusted 216,000 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 2228,000. The government left the previous week’s report unrevised.

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 – increased by 4,000 claims to 231,750.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, dropped by 55,000 to a seasonally adjusted 1.77 million during the week ending Feb. 9, the government said.

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