By CountingPips.com
U.S. jobless claims increased by just slightly more than expected in the week that ended on January 1st, according to the data release by the U.S. Labor Department today. Weekly initial jobless claims increased by 18,000 workers to a total of 409,000 unemployed workers for the week through the first day of the new year. The 4-week moving average of unemployed workers decreased by 3,500 workers from the previous week to a total of 456,000 workers.
Market forecasts were expecting jobless claims to number approximately 405,000 claims following the prior week’s 391,000 revised number of claims.
Meanwhile, workers seeking continuing claims for unemployment benefits for the week ending December 25th decreased for the week. Continuing claims fell by 47,000 workers to a total of 4,103,000 unemployed workers. The 4-week moving average of continuing claims declined by 2,750 workers to a total of 4,122,500.
The market-moving US Nonfarm Payrolls report for December is to be released tomorrow at 13:30 pm GMT with early market forecasts predicting a potential gain of 140,000 jobs and with the unemployment rate dipping to 9.7 percent from 9.8 percent.
