New US jobless claims reach 100th week below 300,000

New claims for US unemployment insurance fell in the final week of January, extending a streak of low levels to 100 consecutive weeks, the Labor Department said Thursday.

The figures supported the general picture of health in US labor markets but came a day before the department is due to release highly-anticipated monthly employment report showing job creation and unemployment.

For the week ending January 28, initial claims for jobless benefits stood at 246,000 on a seasonally adjusted basis, a decrease of 14,000 from the prior week and also below a consensus forecast by analysts.

The result marked 100 weeks below 300,000, a streak not seen since 1970.

The more stable four-week moving average rose slightly, up 2,250 from the prior week to 248,000.

While weekly jobless claims figures can be volatile, but are used to gauge the prevalence of layoffs and the health of jobs markets.

Strong job creation and low unemployment since mid-2016 helped persuade US monetary policymakers to raise interest rates in December for only the second time in a decade.

However, the Federal Reserve this week stood pat. Sluggish wage growth and tame levels of inflation have persisted, removing some pressure on the US central bank to raise rates more quickly.

Gann

Gann Mathematical Methods Course

William Delbert Gann is a legend in the world of market trading! His trade performance have never been equaled! His analysis system has an accuracy rate of over 85%! Now you can learn it yourself following the “Gann Mathematical Methods Course”! In a few simple steps with concrete examples! There is no need for you to have previous trading experience! You can now start from scratch and you will be guided to success step by step!