US WEEKLY JOBLESS CLAIMS DROP UNEXPECTEDLY

Aruba, January 20, 2020 – The number of Americans filing claims for unemployment benefits unexpectedly dropped for a fifth straight week last week.

  • The data indicated the labor market remained strong despite a recent slowdown in job growth.
  • Initial claims for state unemployment benefits dropped to 204,000 for the week ended Jan. 11, the Labor Department said.

The number of Americans filing claims for unemployment benefits dropped for a fifth straight week last week, indicating the labor market remained strong despite a recent slowdown in job growth.

Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 204,000 for the week ended Jan. 11, the Labor Department said on Thursday.

Economists polled by Reuters had forecast claims would rise slightly to 216,000 in the latest week from the unrevised 214,000 reported for the previous week.

The U.S. dollar pared losses against a basket of currencies and U.S. stock index futures held gains after the release of the data. Prices of U.S. Treasuries were trading lower.

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