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U.S. weekly jobless claims drop to 192,000, gold price steady

March 16, 2023

WASHINGTON (March 16) The initial weekly jobless claims fell by 10,000 to 192,000 in the week to Saturday, surprising the markets with a bigger-than-expected drop.

Economists’ consensus calls projected the initial claims to decline to 205,000 from the previous week’s revised level of 212,000.

The four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it flattens week-to-week volatility – fell by 750 to 196,500. The previous week’s four-week moving average was revised up by 250 to 197,250, the U.S. Labor Department said on Thursday.


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