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Jobless claims fall

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Jobless claims fall

Drop from 7-month high last week.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended January 17 were 307,000, a decrease of 10,000 from the previous week's revised figure.

Analysts had expected a decrease to 300,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 6,500 to 306,500.

The increase in the 4-week moving average is significant, as it is the first time in 18 weeks that it has risen above 300,000. However, most indicators suggest continued improvement in the jobs market.

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