First-time weekly jobless claims in the U.S. fell by 16,000 to a seasonally adjusted 278,000 during the week to Saturday, the Labor Department said Thursday.Consensus expectations compiled by various news organizations called for initial claims to be around 270,000 to 278,000. The government left the prior week’s tally unrevised at 294,000.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 7,500 claims to 275,750.Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, decreased by 13,000 to a seasonally adjusted 2,152,000 during the week ending May 7, the government said. The four-week moving average rose by 4,250 to 2,142,500.There were no special factors impacting this week's initial claims, the Labor Department said.Traders monitor jobs data closely to gauge how aggressively the U.S. Federal Open Market Committee alters monetary policy.
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