(Department of Labor) US jobless claims totaled 238,000 in the week that ended January 29, down by 23,000 from the previous week. The claims were below estimates of 245,000.
The fall in the jobless claims reflected declining cases of the Omicron in the last two weeks, although the four-week average claims rose by 7,750 to 255,000.
The continuing claims declined by 44,000 to 1.628 million. The four-week average continuing claims fell by 31,250 to 1.6198 million.
The initial claims under various state programs fell by 11,728 or 4.4% to 257,002. The decline was a higher than expected fall of 11,183 or 4.2%.
The continuing claims under various state programs increased by 39,320 or 2.0%, to 2.041 million. The increase was smaller compared to the expected gain of 83,384 or 4.2%.
Alabama was the only state to post an increase in initial claims. California posted the largest declines in initial claims, followed by Pennsylvania, New York, New Jersey, and Kentucky.
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