(Kitco News) - Season factors continue to create some volatility in the U.S. labor market even as it remains fairly resilient, with the number of American workers applying for first-time unemployment benefits falling in line with expectations.
Initial claims for state unemployment benefits came in at a seasonally adjusted 224,000 for the week ending December 13, the Labor Department announced on Thursday. Claims fell by 13,000 from last week’s revised level of 237,000.
Meanwhile, the four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it smooths week-to-week volatility – came in at 217,500, an increase from the previous week's unrevised average of 217,000.
The gold market is not seeing any major reaction to the benign labor market data. Spot gold continues to see modest profit-taking, last trading at $4,321.89 an ounce, down 0.34% on the day.
