Jobless Claims Fall More Than Expected After U.S. Holidays
- Drop eases concern that prior jump signaled weakness
- Few firings point to steady demand for workers after holidays
El-Erian: Labor Market Healthiest Part of U.S. Economy
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Applications for unemployment benefits in the U.S. declined last week from a six-month high, indicating firings remain low following the volatility typically associated with post-holiday staff adjustments.
Jobless claims fell by 16,000 to 278,000 in the week ended Jan. 23, from 294,000 in the prior period, a report from the Labor Department showed on Thursday in Washington. The median forecast of 51 economists surveyed by Bloomberg called for 281,000. The number of those continuing to receive benefits climbed.