U.S. Jobless Claims Fell by 67,000, Remain Below Analysts’ Expectations

U.S jobless claims totaled 847,000 for the week ending January 23, to remain below the expected 875,000, according to the Department of Labor press release. The jobless claims were a decline of 67,000 from the previous week. 

• The previous week’s jobless claims were revised up by 14,000 from 900,000 to 914,000.
• Continuing claims fell by 203,000 to a new pandemic-era low of 4.77 million, below the expected 5.05 million. 
• The total Americans receiving employment benefits jumped by 2.29 million from the previous week to 18.28 million.
• The jobless claims report came when the fourth-quarter U.S gross domestic product showed the economy grew at an annualized rate of 4% in the final three months of 2020.

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