Initial jobless claims fell by 16,000 in the week ended Jan. 13 to a total of 187,000, according to the US Department of Labor. It’s the lowest level for initial claims since Sept. 24, 2022, when the total was 182,000.

The previous week’s level was revised up by 1,000.

Meanwhile, the four-week moving average of claims fell by 4,750 from the previous week to a total of 203,250. The previous week’s average was revised up by 250.