U.S. jobless claims dip unexpectedly |
| The Labor Department reported on Thursday that the number of applicants for unemployment benefits in the seven days to January 10th fell by 9,000 to 198,000, well below the 215,000 expected among analysts polled by FactSet. The four-week average of claims fell by 6,500 to 205,000, while the total number filing for jobless benefits, reported with a one-week lag, declined by 19,000 to 1.88m. Notable increases in claims were seen in California, Massachusetts, Michigan, Texas, and Tennessee, offsetting a 4,382 drop in filings in New York. "Initial jobless claims are still subject to seasonal volatility, but the surprises have been more to the downside," said Nancy Vanden Houten, lead U.S. Economist at Oxford Economics. "Looking through the noise, we see no signs that labor market conditions are worsening," she added. "The claims data offer no reason to change our outlook for the economy or Fed policy." |
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