US initial jobless claims fell by 1,000 in the week ended Jan. 11 to a total of 202,000 — their lowest level since the week of Oct. 14, 2023, according to the US Department of Labor. The previous week’s level was revised upward by 1,000.
The Associated Press noted the US labor market continues to flex its muscle despite elevated interest rates.
Meanwhile, the four-week moving average of claims declined by 250 to a total of 207,750. The previous week’s average was revised upward by 250.