The U.S. Labor Department said the number of U.S. workers filing new claims for unemployment benefits declined by 12,000 last week, another sign of an improving labor market in advance of the government’s monthly jobs report.
The Labor Department reported the initial unemployment claims decreased by 12,000 to 367,000 in the week that ended Jan. 28, more than the 7,000 forecast in a Dow Jones survey of economists.
Although the previous week’s figures were revised upward from 377,000 to 379,000, the four-week moving average of new jobless claims decreased last week by 2,000 to 375,750. When that number is consistently below 400,000, economists view that as a positive sign that the economy is adding jobs.
