U.S. Jobless Claims Rise Slightly

Washington, Rabi’II 14, 1438, Jan 12, 2017, SPA — Slightly more Americans filed for unemployment insurance benefits in the first week of the year, but still came in lower than expected, the government said Thursday.
The Labor Department reported that initial claims increased by 10,000 in the week-ended January 7 compared to the prior week, to 247,000, adjusted for seasonal factors.
But after the big drop in the final week of 2016, analysts were expecting claims to jump almost 20,000 to 255,000. The weekly data tend to be volatile, particularly around year’s end.
The result continued a nearly two-week streak of initial claims for unemployment benefits below 300,000, which at 97 consecutive weeks is the longest since 1970. In the first week of 2016, claims were 280,000.
The less volatile moving average of the four weeks ended January 7 fell slightly to 256,500 comparted to the month ended December 31.
–SPA
18:07 LOCAL TIME 15:07 GMT