Financial News: U.S. Jobless Claims Dip Slightly More Than Expected

U.S. Jobless Claims Dip Slightly More Than Expected To 213,000

02/13/2025 - 10:07:00 (RTTNews)

(RTTNews) - First-time claims for U.S. unemployment benefits fell by slightly more than expected in the week ended February 8th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims dipped to 213,000, a decrease of 7,000 from the previous week's revised level of 220,000.

Economists had expected jobless claims to slip to 215,000 from the 219,000 originally reported for the previous week.

The Labor Department said the less volatile four-week moving average also edged down to 216,000, a decrease of 1,000 from the previous week's revised average of 217,000.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also fell by 36,000 to 1.886 million in the week ended February 1st.

The four-week moving average of continuing claims also slipped to 1,871,500, a decrease of 750 from the previous week's unrevised average of 1,872,250.

Last Friday, the Labor Department released a separate report showing employment in the U.S. increased by less than expected in the month of January, although the report also showed the unemployment rate unexpectedly edged slightly lower.

The closely watched report said non-farm payroll employment rose by 143,000 jobs in January compared to economist estimates for an increase of about 170,000 jobs.

The Labor Department said job growth in the healthcare, retail and social assistance sectors was partly offset by a decrease in employment in the mining, quarrying and oil and gas extraction industry.

Meanwhile, employment in December and November surged by upwardly revised 307,000 jobs and 261,000 jobs, respectively, reflecting a net upward revision of 100,000 jobs.

The report also said the unemployment rate dipped to 4.0 percent in January from 4.1 percent in December. The unemployment rate was expected to remain unchanged.

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