Jobless Claims Come In Slightly Higher Than Expectations, Continuing Claims Rise
Synopsis
According to data released by the U.S. Department of Labor on Wednesday, jobless claims fell by 5,000 to 227,000 in the week ended February 7.
Weekly jobless claims came in slightly higher than expected, according to data released a day early by the U.S. Department of Labor due to Christmas.
Jobless claims fell by 5,000 to 227,000 in the week ended February 7. This was higher than a Dow Jones estimate of 225,000, as cited by MarketWatch. The previous week’s jobless claims level was revised up by 1,000 to 232,000, according to the Labor Department data.
The four-week moving average for jobless claims, which smooths weekly volatility, rose by 7,000 to 219,500.
Continuing claims, which refer to the number of people claiming unemployment benefits beyond the first week, hovered in the 1.86 million range for the week ended January 31, increasing by 21,000 over the previous week.
Get updates to this story developing directly on Stocktwits.<
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.