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U.S. weekly jobless claims holding steady At 227K

Kitco News

(Kitco News) - The U.S. labor market remains on solid footing even after initial weekly jobless claims disappointed expectations for the week to Saturday, according to the latest data employment data.

Thursday the U.S. Labor Department said that weekly jobless claims were unchanged at 227,000, compared to last week's revised data. The report said that the previous week's numbers were revised up by 2,000 claims.

The data missed expectations as market consensus called for initial claims to be round 215,000.

The four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it flattens week-to-week volatility – rose to 221,000, up by 3,500 claims from the previous week.

Continuing jobless claims, which represent the number of people already receiving benefits, were at 1.695 million during the week ending Nov. 9, up by 3,000 from the previous week.

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

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