Weekly Jobless Claims Break the Streak
The U.S. Department of Labor has released the report on weekly jobless claims for the week ended on January 17.
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The four-week moving average was recorded at approximately 306,500, which was an increase of only 6,500 from the previous reading of 298,000 claims. The number of claims fell below the 300,000 level in late July and has only now risen above it again. This was, for a while, the longest that the four-week moving average had remained below the 300,000 level since 2000.
According to the Labor Department, there were no special factors that had an impact on this past week’s reported initial jobless claims.
Continuing claims, which are reported with a one-week lag, increased by 15,000 to 2.44 million for the week that ended January 10.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.