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- U.S. Weekly jobless claims fell less than expected
U.S. Weekly jobless claims fell less than expected
According to the report from U.S. Labor Department, initial jobless claim pulled back in the week ended February 2nd after the jump seen in the previous week.
The report said initial jobless claims fell to 234,000, a decrease of 19,000 from the previous week's unrevised level of 253,000. Economists had expected jobless claims to drop to 221,000. The Labor Department said no states were estimated last week.
The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 4,500 to 224,750 last week.
Thursday's claims report showed the number of people receiving benefits after an initial week of aid fell 42,000 to 1.74 million for the week ended Jan. 26. These so-called continuing claims had raced to a nine-month high in the prior week. The four-week moving average of continuing claims rose 4,250 to 1.74 million.
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