First-time unemployment claims fall for the 2nd straight week

Feb. 3 (UPI) -- Some 238,000 U.S. residents filed initial unemployment claims last week, 23,000 fewer than the week before, according to a new report from the Labor Department on Thursday.

The seasonally-adjusted total showed a drop in jobless claims for the second straight week after filings leaped to 290,000 by mid-January. Unemployment claims had dropped to 188,000 in December.

First-time jobless claims for the week ending Jan. 22 were revised up 1,000 from 260,000.

The four-week moving for initial filings reached 255,000 for the week ending Jan. 29, an increase of 7,750.

Actual claims, not adjusted for the season, came in at 257,002 last week, a drop of 11,728, or 4.4% from the previous week. The seasonal factors had anticipated an increase of 11,183 or 4.2% from the previous week.

The total number of those filing unemployment insurance claims for the week ending Jan. 22 was a seasonally-adjusted 1.628 million, according to the report, a decrease of 44,000 from the previous week's revised total.

The four-week moving average for total claims fell to 1.619 million its lowest average since Aug. 4, 1973.