First-time claims for U.S. unemployment benefits showed a notable decrease in the week ended February 4th, according to a report released by the Labor Department on Thursday, with the data likely to add to recent optimism about the labor market.
The report showed that initial jobless claims fell to 358,000 from the previous week's revised figure of 373,000. Economists had been expecting jobless claims to edge up to 370,000 from the 367,000 originally reported for the previous week.
The Labor Department also said that the less volatile four-week moving average fell to 366,250 from the previous week's revised average of 377,250.
For comments and feedback: editorial@rttnews.com