Jobless Claims Climb 8,000 To 480,000 in Jan. 30 Week

Initial jobless claims increased by 8,000 to a seasonally adjusted 480,000 for the week ending Jan. 30, reaching the highest level since Dec. 15 and the fourth increase in five weeks, the Labor Department reported yesterday.

Continuing claims increased by 2,000 to 4.602 million for the week ending Jan. 23. Initial claims have increased in four of the past five weeks.

Economists expected 460,000 initial jobless claims and 4.580 million continuing claims, according to the median estimate from Thomson Reuters.

Initial claims for the week ending Jan. 23 were revised to 472,000 from the 470,000 initially reported. Continuing claims for the week ending Jan. 16 were revised down to 4.600 million from the 4.602 million initially reported.

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