US Weekly Jobless Claims Unexpectedly Fall

Source: US News and World Report/Reuters

Jan. 8, 2025, at 8:38 a.m.


WASHINGTON (Reuters) - The number of Americans filing new applications for unemployment benefits unexpectedly fell last week, pointing to a stable labor market at the start of the year though some laid-off workers are experiencing difficulties finding new jobs.

Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 201,000 for the week ended Jan. 4, the Labor Department said on Wednesday. Economists polled by Reuters had forecast 218,000 claims for the latest week.

The report was published a day early as federal government offices are closed on Thursday in honor of former President Jimmy Carter who died on Dec. 29 at the age of 100.

Though claims tend to be volatile at the turn of the year, they have bounced around levels associated with low layoffs that are underpinning the labor market and broader economy. Labor market stability was underscored by government data on Tuesday showing an increase in job openings in November, with 1.13 vacancies for every unemployed person, up from 1.12 in October.

Read more: https://money.usnews.com/investing/news/articles/2025-01-08/us-weekly-jobless-claims-unexpectedly-fall

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