U.S Jobless Claims Fell by 33,000 for the Final Week of January

U.S. initial jobless claims for the week ending January 30 was 779,000, down 33,000 from the previous week, according to the Department of Labor press release. Thursday’s jobless claims reflect a weakened job market as it is still a historically high total due to the impacts of the pandemic. 

• The 4-week moving average jobless claims was 848,250, down 1,250 from the previous week’s revised average.
• The previous week’s level was revised down by 35,000 from 847,000 to 812,000
• Adjusted insured unemployment during the week ending January 23 was 4,592,000, down 193,000 from the previous week’s revised level.
• The advance unadjusted actual initial claims under state programs totaled 816,247 in the week ending January 30, down 2.8 percent from the previous week.

U.S stocks and the dollar are currently gaining. SPY is up 0.65%, QQQ is up 0.27%, EURUSD is down 0.51%