Initial Claims (Feb. 3)

Initial Claims increased to 415,000, for the week ending 01/29, lower than the expected decrease to 417,000, after increasing to 457,000, the revised level for the previous week. The 4-week moving average increased to 430,500, from the previous week’s revised average of 429,500. Seasonally adjusted insured unemployment from the prior week, ending on 01/22, was 3,925,000, a decrease of 84,000 from the preceding week’s revised level of 4,009,000. Seasonally adjusted insured unemployment rate from the week ending on 01/22, was 3.1%, a decrease of 0.1% from the previous week’s unrevised figure of 3.2%. Tomorrow, the monthly employment situation is scheduled for release by the Bureau of Labor Statistics at 8:30 AM EST and the unemployment rate is expected to increase to 9.5% for January from 9.4% recorded in December.

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