US Initial Jobless Claims Fall More Than Expected
Initial jobless claims in the US fell 16,000 from the previous week to 207,000 in the period ended Jan. 25, well below market expectations of 220,000, which marked a sharp decline from a nearly two-month high last week and in line with the lower readings of recent weeks.
Meanwhile, recurring claims fell 42,000 from a more than three-year high reached the previous week to 1,858,000 in the period ended Jan. 18. The results were consistent with the Federal Reserve’s assertion that the US labor market has stabilized near solid levels, adding leeway for interest rates to remain at tight levels for a longer period.
Source: Trading Economics