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.
U.S stocks are currently gaining as the dollar loses. SPY is up 1.77%, QQQ is up 1.88%, EURUSD is up 0.14%