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US jobless claims decline more than expected

February 08, 2024

US initial jobless claims fell by 9,000 in the week ended Feb. 3 to a total of 218,000, the US Department of Labor reported today. The previous week’s level was revised upward by 3,000.

Economists polled by Reuters had forecast 220,000 claims.

Meanwhile, the four-week moving average of claims rose by 3,750 to a total of 212,250. The previous week’s average was revised upward by 750.

Looking at the previous week, which ended Jan. 27, the states posting the largest increases in initial claims were Oregon, up by 5,458, and California, up 5,015. States with the largest decreases that week were Illinois, down 2,278, and Missouri, down 1,588.