|
Initial claims for state unemployment benefits
slipped 10,000 to a seasonally adjusted 307,000 for the week
ended Jan. 17, the Labor Department said on Thursday.
That reversed the bulk of the prior week's increase which had
pushed claims to their highest level since early June. The rise
was dismissed by economists as "noise" given that claims data is
difficult to adjust for seasonal variations around the Christmas
and New Year holidays.
Economists polled by Reuters had forecast claims falling to
300,000 last week. The prior week's data was revised to show
1,000 more claims received than previously reported.
The four-week moving average of claims, considered a better
measure of labor market trends as it irons out week-to-week
volatility, increased 6,500 last week to 306,500, taking it
above the 300,000 mark for the first time since September.
The claims data covered the week during which the government
surveyed employers for January's nonfarm payrolls.
Despite the gyrations in claims and the four-week average rising
7,750 between the December and January payroll survey periods,
there is little doubt that the labor market is tightening.
Employment gains have exceeded 200,000 in each of the last 11
months, the longest stretch since 1994, and job openings are
near 14-year highs. In addition, the ratio of unemployed people
for every job opening is the lowest since early 2008.
The claims report showed the number of people still receiving
benefits after an initial week of aid increased 15,000 to 2.44
million in the week ended Jan. 10.
(Reporting by Lucia Mutikani; Editing by Andrea Ricci)
[© 2014 Thomson Reuters. All rights
reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
