US jobless claims fall sharply

(Sharecast News) - US jobless claims fell more than expected in the week ended 25 January, according to the Labor Department, marking a sharp pull-back from the previous week's two-month high. Initial jobless claims fell by 16,000 week-on-week to 207,000, well and truly missing expectations for a reading of 220,000.

Continuing claims fell by 42,000 from the prior week's more than three-year high to 1.85m, while the four-week moving average, which aims to strip out week-to-week volatility, was up by 6,000 at 1.87m.







Reporting by Iain Gilbert at Sharecast.com