U.S. Weekly Jobless Claims Dip From Upwardly Revised Level
A report released by the Labor Department on Thursday showed
first-time claims for U.S. unemployment benefits dipped from an
upwardly revised level in the week ended February 6th but came in
The Labor Department said initial jobless claims edged down to
793,000, a decrease of 19,000 from the previous week's revised
level of 812,000.
Economists had expected jobless claims to drop to 757,000 from
the 779,000 originally reported for the previous week.
The report said the less volatile four-week moving average also
slid to 823,000, a decrease of 33,500 from the previous week's
revised average of 856,500.
Continuing claims, a reading on the number of people receiving
ongoing unemployment assistance, also decreased by 145,000 to 4.545
million in the week ended January 30th.
The four-week moving average of continuing claims fell to
4,748,750, a decrease of 157,500 from the previous week's revised
average of 4,906,250.
"Additional fiscal stimulus and broader vaccine diffusion will
eventually allow the labor market to heal," said Nancy Vanden
Houten, Lead U.S. Economist at Oxford Economics.
She continued, "But as the January employment data showed,
current conditions are still quite weak and declines in new jobless
claims are likely to occur only gradually in the near term."
Last Friday, the Labor Department released a separate report
showing a modest rebound in U.S. employment in the month of
T he report said non-farm payroll employment edged up by 49,000
jobs in January after plunging by a revised 227,000 jobs in
Economists had expected employment to rise by about 50,000 jobs
compared to the loss of 140,000 jobs originally reported for the
Meanwhile, the report also showed the unemployment rate slid to
6.3 percent in January from 6.7 percent in December. The
unemployment rate was expected to come in unchanged.