Initial US weekly unemployment claims see large drop
A key gauge of the short-term health of the US labour market continued to improve during the latest week.
Initial US unemployment claims fell by 15,000 to reach 234,000 over the week ending on 19 January, according to the US Departmemnt of Labor.
The reading for the previous week was revised higher by 2,000 to 249,000.
In parallel, the four week moving average dropped by 10,250 to hit 246,750, its lowest level since the week ending on 3 November 1973, when it was at 244,000.
Secondary unemployment claims, those which are not filed for the first time and referencing the week ending on 7 January, decreased by 47,000 to 2.046m.
"Taking the report in its entirety, the level of claims is consistent with ongoing improvement in US labor markets, and the low level of layoffs will likely continue to support household confidence and spending," Barclays´s Michael Gapen said in a research report sent to clients.