2020.01.3012:38:00UTC+00U.S. Weekly Jobless Claims Drop To 216,000

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits decreased from an upwardly revised level in the week ended January 25th.

The report said initial jobless claims fell to 216,000, a decrease of 7,000 from the previous week's revised level of 223,000.

Economists had expected jobless claims to inch up to 215,000 from the 211,000 originally reported for the previous week.

The Labor Department said the less volatile four-week moving average also dipped to 214,500, a decrease of 1,750 from the previous week's revised average of 216,250.