U.S. Jobless Claims Fall To Lowest Level Since 1969
Editor's Note: Updating earlier story with more details from report.
(Kitco News) - Initialweekly U.S. jobless claims fell by 24,000 to a seasonally adjusted 209,000in the week to Saturday, the Labor Department reported. This was the lowestlevel since December 1969.
Consensusforecasts compiled by various news organizations had called for initial claimsto be around 230,000. The government revised the prior week's tally to 233,000from the previously reported 232,000.
Meanwhile,the four-week moving average for new claims - often viewed as a more reliablemeasure of the labor market since it smoothens out week-to-week volatility -was down by 2,250 claims to 229,250.
Continuingjobless claims, the number of people already receiving benefits and reportedwith a one-week delay, decreased by 29,000 to a seasonally adjusted 1,837,000during the week ending April 14, the government said. The four-week movingaverage fell by 9,750 to 1,849,750.
Tradersmonitor jobs data closely to gauge how aggressively the U.S. Federal OpenMarket Committee alters monetary policy.
By Allen SykoraFor Kitco News
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