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U.S. Weekly Jobless Claims Fall To 212K

Kitco News

Initial weekly U.S. jobless claims fell by 16,000 to a seasonally adjusted 212,000 in the week to Saturday, the Labor Department reported Thursday.

The data was better than expected; consensus expectations compiled by various news organizations had called for initial claims to be around 220,000. The government did not revise the prior week's numbers of 228,000 claims.

Meanwhile, the four-week moving average for new claims – often viewed as a more reliable measure of the labor market as it smoothens out week-to-week volatility – rose by 4,750 claims to 225,000.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, dropped by 28,000 to a seasonally adjusted 1,660,000 during the week ending May 4, the government said.

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