WASHINGTON – Initial jobless claims increased by 11,000 to 444,000 for the week ending Jan. 9 as continuing claims dropped by the largest amount in five weeks, the Labor Department reported today.
Continuing unemployment claims dropped by 211,000 to 4.596 million for the week ending Jan. 2, to the lowest level since Jan. 10, 2009.
Economists polled by Thomson Reuters expected 437,000 initial claims and 4.800 million continuing claims, according to the median estimate.
Initial claims for the week ending Jan. 2 were revised slightly lower to 433,000 from 434,000. Continuing claims for the week ending Dec. 26 was revised higher to 4.807 million from 4.802 million.
The four-week moving average of initial claims, a less volatile figure, dropped to 440,750 from 449,750, the lowest level since August 2008. The four-week average for continuing claims dropped to 4.855 million, the lowest level since last February.
