Initial jobless benefit claims drop

WASHINGTON, Feb. 2 (UPI) -- Initial unemployment claims fell by 12,000 to a seasonally adjusted 367,000 for the week ending Jan. 27, the U.S. Labor Department said Thursday.

The previous week's upwardly revised figure was 379,000, the department said in a release.

At 377,750, the four-week moving average held to less than 400,000 for the 11th consecutive week.

The U.S. unemployment rate was 8.5 percent in December, down from November's 8.6 percent on a gain of 200,000 jobs.

The figure is set to be revised, as needed, on Friday with the release of the monthly employment situation report.