FOREX TradingCharts.com

Financial News: U.S. Weekly Jobless Claims Drop More Than Expected

U.S. Weekly Jobless Claims Drop More Than Expected To 847,000

01/28/2021 - 09:30:00 (RTTNews)

(RTTNews) - A report released by the Labor Department on Thursday showed a continued pullback in first-time claims for U.S. unemployment benefits in the week ended January 23rd.

The Labor Department said initial jobless claims fell to 847,000, a decrease of 67,000 from the previous week's revised level of 914,000.

Economists had expected jobless claims to drop to 875,000 from the 900,000 originally reported for the previous week.

Jobless claims declined for the second consecutive week after reaching a more than four-month high of 927,000 in the week ended January 9th.

Meanwhile, the Labor Department said the less volatile four-week moving average rose to 868,000, an increase of 16,250 from the previous week's revised average of 851,750.

"Initial jobless claims were lower than expected last week but remain elevated, with total claims for regular and [Pandemic Unemployment Assistance] benefits coming in at 1.3 million," said Nancy Vanden Houten, Lead U.S. Economist at Oxford Economics.

She added, "Additional fiscal stimulus and broader vaccine diffusion should support an improved labor market in the spring, but claims are expected to remain high in the near term as the pandemic continues to restrict activity, with new strains of the virus a concern."

The report showed continuing claims, a reading on the number of people receiving ongoing unemployment assistance, slid by 203,000 to 4.771 million in the week ended January 16th.

The four-week moving average of continuing claims also fell to 4,998,000, a decrease of 106,750 from the previous week's revised average of 5,104,750.

Next Friday, the Labor Department is scheduled to release its more closely watched report on the employment situation in the month of January.

Economists currently expect employment to rise by 85,000 jobs in January after falling by 140,000 jobs in December. The unemployment rate is expected to hold at 8.7 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Swiss KOF Indicator Signals Economic Activity Rebound Ahead (07 min(s), 08 sec(s) ago)
(RTTNews) - A measure signaling turning points in Switzerland's economy rose above its long-te ...Full Story»

Spain Consumer Prices Remain Flat In February (11 min(s), 08 sec(s) ago)
(RTTNews) - Spain's consumer prices remained unchanged in February after recovering a month ag ...Full Story»

Portugal Inflation Rises In February (31 min(s), 08 sec(s) ago)
(RTTNews) - Portugal's consumer prices inflation increased in February, preliminary data from ...Full Story»

Latvia Retail Sales Decrease In January (38 min(s), 08 sec(s) ago)
(RTTNews) - Latvia's retail sales declined in January, figures from the Central Statistical Bu ...Full Story»

Greece Producer Prices Declined At A Softer Pace (44 min(s), 08 sec(s) ago)
(RTTNews) - Greece producer prices continued to fall in January, data from the Hellenic Statistica ...Full Story»

Slovakia Producer Prices Fall Further (46 min(s), 08 sec(s) ago)
(RTTNews) - Slovakia's producer prices decreased further in January, figures from the Statisti ...Full Story»

Cyprus Output Prices Decline Eases In January (55 min(s), 08 sec(s) ago)
(RTTNews) - Cyprus industrial output prices declined at a softer pace in January, figures from the ...Full Story»

Swiss GDP Growth Weakens In Q4 (01 hr(s), 35 min(s), 08 sec(s) ago)
(RTTNews) - Switzerland's economic growth eased sharply in the fourth quarter as the restricti ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Swiss KOF Indicator Signals Economic Activity Rebound Ahead

02/26/2021 - 07:37 AM (RTTNews)
(RTTNews) - A measure signaling turning points in Switzerland's economy rose above its long-te ...Full Story>>

Spain Consumer Prices Remain Flat In February

02/26/2021 - 07:33 AM (RTTNews)
(RTTNews) - Spain's consumer prices remained unchanged in February after recovering a month ag ...Full Story>>

Portugal Inflation Rises In February

02/26/2021 - 07:13 AM (RTTNews)
(RTTNews) - Portugal's consumer prices inflation increased in February, preliminary data from ...Full Story>>

Latvia Retail Sales Decrease In January

02/26/2021 - 07:06 AM (RTTNews)
(RTTNews) - Latvia's retail sales declined in January, figures from the Central Statistical Bu ...Full Story>>

Greece Producer Prices Declined At A Softer Pace

02/26/2021 - 07:00 AM (RTTNews)
(RTTNews) - Greece producer prices continued to fall in January, data from the Hellenic Statistica ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.