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.
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