US Initial Jobless Claims See a Notable Decline

In a recent update from the Department of Labor, the United States has witnessed a decrease in seasonally adjusted initial jobless claims by 7,000, bringing the total to 213,000 for the week ending February 8. This figure slightly undercuts previous estimates, signaling a robust job market.

Steady Unemployment Rates and Further Declines

The 4-week moving average also saw a reduction, decreasing by 1,000 to 216,000, compared to the prior week. Moreover, the advance seasonally adjusted insured unemployment rate held steady at 1.2% for the week ending February 1. The number of seasonally adjusted insured unemployment claims dropped by 36,000 to 1,850,000, with the 4-week moving average decreasing by 750 to 1,871,500.