The number of U.S. workers filing new applications for jobless benefits tumbled last week, a government report showed on Thursday, reversing a recent spike that had raised concerns about renewed labor market weakness.
Initial claims for state unemployment benefits dropped by 43,000 to a seasonally adjusted 440,000 for the week ended Feb. 6, down from a revised 483,000 in the prior week, the Labor Department said.
Analysts polled by Reuters had expected 465,000 initial claims. The prior week was initially reported as 480,000, an unexpectedly high reading that was blamed in part on a backlog of claims that piled up over the holiday season.
Full story: Jobless Claims Show Strong Decrease to Reverse Trend – CNBC