Reports show that the jobless claims increased by 25,000 and reached 304,000 last week.
The numbers were higher than the experts forecasted to be: 279,000.
According to the predictions of 48 economists, the jobless claims should have been of approximately 287,000.
This means that the four-week average has gone down since the second part of November 2014.
David Sloan, senior economist, says that reports show that the jobless claims are a bit low at the moment, which he believe could be related to the bad weather, but overall, the US labor market is looking strong.
Company managers have reasons to retain their staff, which limits dismissals. This happens because of a sustained demand of jobs, according to economists.
Recent surveys show that the US jobless claims ranged from 275,000 to 300,000, following previous reports of 278,000 from a week before.
Because of the recent snowstorms, the reports that show the jobless claims for the state of Massachusetts were delayed. According to a representative of the Labor Department, the figures were close to what the analysts predicted.
The four-week average of jobless claims declined to 289,750 from the previous week’s 293,000.
Reports reveal that the number of Americans who continue to receive jobless benefits went down by 51,000 to approximately 2,35 million during the last week of January 2015.
Also, the unemployment rate among Americans who are eligible for benefits was 1.8% during that period. The data were reported with a lag of one week.
In January, the payrolls have gone up to 257,000, which followed the last year’s increases reported in both November and December.
The Labor Department reported on February 6 that the employment rate gained an average of 336,000 in only three months, which is a record since November 1997.
The US jobless rate has risen to 5.7% from 5.6%, as more than a million American citizens have gone to the labor force and started looking for work.
Image Source: investing