U.S. weekly jobless claims fall by 15K
(Kitco News) - The U.S. labor market continues to see positive gains even the economy continues to face growing geopolitical uncertainty.
Thursday, the U.S. Labor Department said that weekly jobless claims fell by 15,000 to 214,000, down from the previous week's revised estimate of 229,000 claims.
The latest labor market data beat expectations. According to consensus forecasts, economists were expecting to see jobless claims fall to around 221,000.
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 – fell to 23,00, down by 8,750 claims from the previous week's revised average.
Continuing jobless claims, which represent the number of people already receiving benefits, were at 1.419 million during the week ending March 5, dropping by 71,000 from the previous week's revised level.