United States Initial Jobless Claims

Initial jobless claims in the US sank by 16,000 from the previous week to 207,000 in the period ending January 25th, firmly below market expectations of 220,000 to mark a sharp pullback from the near two-month high last week and match the lower range of readings from recent weeks. In the meantime, recurring claims fell by 42,000 from the over three-year high touched the earlier week to 1,858,000 on the period ending January 18th. The result was consistent with the Federal Reserve’s statement that the US labor market has steadied near solid levels, adding leeway for rates to remain at the restrictive level for a longer period.