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U.S. weekly jobless claims hit five-month low at 204K

Kitco News

(Kitco News) - The U.S. Labor market remains a bright spot in the U.S. economy as weekly jobless claims fall to a five-month low. Initial weekly U.S. jobless claims fell by 15,000 to a seasonally adjusted 204,000 in the week to Saturday, the Labor Department reported Thursday.

Consensus expectations compiled by various news organizations had called for initial claims to be relative unchanged around 215,000. The previous week’s report was revised up by 2,000 claims to 219,000.

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 – fell by 4,250 claims to 212,500

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, dropped by 4,000 to a seasonally adjusted 1.67 million during the week ending Aug. 31, the government said.

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