U.S. Weekly Jobless Claims Fall to 209K
(Kitco News) - Initial weekly U.S. jobless claims fell by 13,000 to a seasonally adjusted 209,000 in the week to Saturday, the Labor Department reported Wednesday.
Consensus expectations compiled by various news organizations had called for initial claims to be around 220,000. The government revised the prior week's numbers of 221,000 claims up by 1,000 to 222,000 claims.
The recent numbers are the lowest in three months, since the number of weekly jobless claims in the last week of March was at 211,000.
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 – fell by 3,250 claims to 219,250.
Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, increased by 27,000 to a seasonally adjusted 1,723,000 during the week ending June 29, the government said.