The Financial Express
Swasti Lankabangla Swasti Lankabangla

US weekly jobless claims rise to 211,000

| Updated: February 29, 2020 12:01:19

File photo (Collected) File photo (Collected)

The number of initial jobless claims in the United States rose last week, according to a report released by the US Bureau of Labor Statistics on Thursday.

The number of people filing for US unemployment benefits increased by 6,000 to 211,000 from the previous week's revised figure in the week ending Jan. 18, said the bureau.

Meanwhile, the bureau also said that the previous week's level was revised up by 1,000 from 204,000 to 205,000, reports Xinhua.

The report also showed that the four-week moving average of initial claims, a method to iron out data volatility, decreased by 3,250 to 213,250.

Besides, the previous week's average was revised up by 250 from 216,250 to 216,500, said the bureau.

As an important leading indicator of unemployment status in the United States, a lower reading in jobless claims indicates lower overall layoffs. The reading of jobless claims remained below the 300,000 threshold, signalling a tight labour market in the United States.

For the bigger picture of US labour market, US employers added 145,000 jobs in December, down from a revised 256,000 in November, and the unemployment rate remained at 3.5 per cent, the US Bureau of Labor Statistics reported on Jan. 10.

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