US jobless claims unexpectedly rose last week

US jobless claims

The number of Americans filing for unemployment benefits unexpectedly rose last week. Despite that climb, levels still remain within “healthy economic” levels according to analysts.

Initial claims for state unemployment benefits increased 7,000 to a seasonally adjusted 284,000 for the week ended January 9, the Labor Department said.

Regardless of those numbers it was still theĀ 45th consecutive week that claims remained below the 300,000 mark, which is associated with strong labor market conditions.

The US is currently experiencing the longest stretch in continued employment since the 1970s.

Economists had forecast claims slipping to 275,000 last week.

The four-week moving average of claims, considered a better measure of labor market trends as it strips out week-to-week volatility, rose 3,000 to 278,750 last week.

Despite a lagging stock market, nonfarm payrolls continued to climb in December.

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Written by Jeff Springer

Jeff Springer

Jeff Spring is the Finance & Markets Editor at BusinessPundit.com. He's currently spending his days backpacking across Europe. While he may be living outside of the United States, he stays connected to American financial markets and M&A's more than is probably healthy for any single person. His love of a good book and a Bloomberg terminal can't be understated. He can be reached at JeffSpringer@BusinessPundit.com