U.S. jobless claims fall in mid-January, in line with robust labor markets

U.S. jobless claims drop in mid-January. In the week ended 13 January, initial jobless claims fell to 220k from 261k, below consensus expectations of 150k. Claims around this level were last seen in the early 1970s. The four-week moving average dropped to 244k.

Claims were expected to retreat in this period, as the rise in claims for the week ended 6 January was driven mainly by New York, which was believed to be on account of inclement weather conditions, noted Barclays in a research report.

Meanwhile, continuing claims for the week ended 6 January rose to 1.95 million. The insured jobless rate rose by one-tenth to 1.4 percent.

“On balance, we see the claims data as consistent with robust labor markets”, added Barclays in a research report. 

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