Jobless Claims Drop By Most In Over Two Months, Coming In Below Expectations

Weekly jobless claims came in notably lower than expected, according to data released by the U.S. Department of Labor on Thursday, registering the biggest drop in over two months.

Jobless claims fell by 23,000 to 206,000 in the week ended February 7. This was lower than a Dow Jones estimate of 223,000, as cited by MarketWatch. The previous week’s jobless claims level was revised up by 2,000 to 229,000, according to the Labor Department data.

The four-week moving average for jobless claims, which smooths weekly volatility, fell by 1,000 to 219,000. The previous week’s average was revised upward by 500 to 220,000.

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Also See: Amazon Pips Walmart To Become World’s Biggest Company By Revenue

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