U.S. Weekly Jobless Claims Hold Near 49-Year Low
(Kitco News)- Initialweekly U.S. jobless claims remain near their lowest level in 49 years, with aseasonally adjusted data remaining unchanged at 211,000 in the week toSaturday, the Labor Department reported.
Consensusforecasts compiled by various news organizations had called for initial claimsto be around 219,000. The government left the prior week's tally unrevised at211,000.
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 5,500 claims to 216,000.
Continuingjobless claims, the number of people already receiving benefits and reportedwith a one-week delay, decreased by 30,000 to a seasonally adjusted 1.79million during the week ending April 21 the government said.
Tradersmonitor jobs data closely to gauge how aggressively the U.S. Federal OpenMarket Committee alters monetary policy.
The gold market is not paying much attention to the positiveemployment data as the market is focusing on disappointing inflation data. Junegold futures last traded at $1,321.70 an ounce, up 0.66% on the day.
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