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Jobless claims drop though remain above estimate

Seasonally adjusted initial jobless claims totaled 793,000 last week, higher than the Dow Jones estimate of 760,000. The count was a decline from the previous week however, showing a 19,000 drop in claims.

In the week ending February 6, the advance figure for seasonally adjusted initial claims was 793,000, a decrease of 19,000 from the previous week’s revised level.

The previous week’s level was revised up by 33,000 from 779,000 to 812,000. The 4-week moving average was 823,000, a decrease of 33,500 from the previous week’s revised average.

The previous week’s average was revised up by 8,250 from 848,250 to 856,500. 

Advance seasonally adjusted insured unemployment rate was 3.2 percent for the week ending January 30, a decrease of 0.1 percentage point from the previous week’s revised rate. The previous week’s rate was revised up by 0.1 from 3.2 to 3.3 percent.

Seasonally adjusted insured unemployment during the week ending January 30 was 4,545,000, a decrease of 145,000 from the previous week’s revised level.

The previous week’s level was revised up 98,000 from 4,592,000 to 4,690,000.