US Weekly Jobless Claims Fell to 258,000

U.S. initial weekly jobless claims fell by 3,000 to a seasonally adjusted 258,000 in the week to Saturday, the Labor Department said. The tally exceeded forecasts.

Consensus expectations compiled by various news organizations called for initial claims to be around 245,000 to 247,000. The government revised the prior week’s tally to 261,000 claims from the previously reported 258,000.

Meanwhile, the four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it smoothens out week-to-week volatility – was up by 7,750 claims to 254,250.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, increased by 65,000 to a seasonally adjusted 2,052,000 during the week ending March 18, the government said. The four-week moving average fell by 1,250 to 2,030,750.

Traders monitor jobs data closely to gauge how aggressively the U.S. Federal Open Market Committee alters monetary policy.

via Kitco

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza