U.S. Jobless Claims Decline 8,000 To 207,000
(Kitco News) - U.S. initial weekly jobless claims fell by 8,000 to 207,000in the week to Saturday, the lowest level since 1969, the government saidThursday. The tally was below expectations of economists.
Consensus forecasts compiled by various news organizations hadcalled for initial claims to be around 220,000 to 224,000. The Labor Departmentrevised the prior week's tally to 215,000 from the previously reported 214,000.
Meanwhile, the four-week moving average for new claims - oftenviewed as a more reliable measure of the labor market since it smoothens outweek-to-week volatility - was down by 2,750 claims to 220,500.
Continuing jobless claims, the number of people already receivingbenefits and reported with a one-week delay, increased by 8,000 to a seasonallyadjusted 1,751,000 during the week ending July 7, the government said.
Traders monitor jobs data closely to gauge how aggressively theU.S. Federal Open Market Committee alters monetary policy.
By Allen SykoraFor Kitco News
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