US initial claims for jobless benefits fell by 23,000 in the week ended Jan. 29, the second consecutive weekly decline, the US Department of Labor reported today.

Economists polled by Reuters had forecast 245,000 applications for the latest week.

Total initial claims are at a level of 238,000. The previous week’s level was revised upward by 1,000.

The four-week moving average of initial claims was 255,000, up 7,750 from the previous week’s average, which was revised upward by 250.

The two weekly declines in initial claims suggest that an anticipated slowdown in job growth in January was likely temporary, Reuters reported.

“The omicron Covid-19 variant's grip on the US labor market is loosening and job growth should reaccelerate,” wrote Ryan Sweet, a senior economist at Moody's Analytics.