Initial U.S. jobless claims tumbled by 41,000 to 220,000 in mid-January, marking the biggest one-week decline since 2009. The number of new claims also touched the lowest level since February 1973.
Economists polled by MarketWatch has forecast claims to total 250,000 in the seven days ended Jan. 13. The level of claims gives a rough idea of how many people are losing their jobs.
The more stable monthly average of claims, meanwhile, declined by a smaller 6,250 to 244,500, the government said Thursday.
The number of people already collecting unemployment benefits, known as continuing claims, rose by 76,000 to 1.95 million.
Source : Market Watch