The number of initial jobless claims in the US fell unexpectedly in the week ending Jan. 25, signaling momentum in the labor market of the world’s largest economy.
Data released today, Jan. 30, by the US Labor Department showed that initial claims dropped by 16,000 to 207,000, marking the lowest level in three weeks.
Economists had expected claims to rise to 224,000 from the previous week’s unadjusted reading of 223,000.
Meanwhile, the four-week moving average of jobless claims, seen as a more accurate gauge of labor market performance, fell by 1,000 to 212,500.
|
US Weekly Jobless Claims |
||||
|
Item |
Last Year |
Last Week |
Current Week |
Change |
|
Initial Claims ('000) |
225 |
223 |
207 |
(16) |
|
4-Week Average ('000) |
209.5 |
213.5 |
212.5 |
(1) |
|
No. of Beneficiaries (mln) |
1.829 |
1.9 |
1.858 |
(0.042) |
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