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A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits edged up by slightly less than expected in the week ended January 3rd. The Labor Department said initial jobless claims crept up to 208,000, an increase of 8,000 from the previous week's revised level of 200,000. Meanwhile, the report said the less volatile four-week moving average slipped to 211,750, a decrease of 7,250 from the previous week's revised average 219,000. With the dip, the four-week moving average dropped to its lowest level since hitting 210,250 in the week ended April 27, 2024. The Labor Department said continuing claims, a reading on the number of people receiving ongoing unemployment benefits, climbed by 56,000 to 1.914 million in the week ended December 27th. The four-week moving average of continuing claims also rose to 1,892,750, an increase of 21,000 from the previous week's revised average of 1,871,750. Powered by Commodity Insights
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