U.S. Weekly Jobless Claims Fall By 4,000 To 226,000
Editor's Note: Updating earlier story with more details from report.
(Kitco News)- InitialU.S. jobless claims fell by 4,000 to a seasonally adjusted 226,000 in theweek to Saturday, the Labor Department said Thursday.
Consensusforecasts compiled by various news organizations called for initial claims tobe around 228,000 to 229,000. The government revised the prior week's tally to 230,000claims from the previously reported 231,000.
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 750 claims to 221,500.
Continuing jobless claims, the number of people alreadyreceiving benefits and reported with a one-week delay, increased by 4,000 to aseasonally adjusted 1,879,000 during the week ending March 3, the governmentsaid. The four-week moving average fell by 17,250 to 1,890,750.
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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