The number of Americans filing for unemployment benefits fell more than expected...
FILE PHOTO: People wait in line to attend TechFair LA, a technology job fair, in Los Angeles, California, U.S., January 26, 2017. REUTERS/Lucy Nicholson/File Photo
Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 204,000 for the week ended Jan. 11, the Labor Department said on Thursday. With the fifth straight weekly drop, claims unwound the surge seen in early December, which was blamed on a later-than-normal Thanksgiving Day. Claims data for the prior week was unrevised.
The claims data was volatile in late 2019, with applications dropping to 203,000 at the end of November and shooting up to 252,000 in early December. The economy created 145,000 jobs last month after adding a hefty 256,000 positions in November. Still, the labor market remains on solid footing, with the unemployment rate holding near a 50-year low of 3.5% in December.
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