Today, February 4, the Labor Department reported that new claims for unemployment in regular state unemployment programs for the week ended January 30 fell to 779,000 on an adjusted basis. That was a drop of 33,000 from the previous week and it marks a third straight weekly delcine.
On an unadjusted level new claims dropped to 816,247.
Continuing claims for unemployment in regular state programs dropped to 4.59 million for the week ended January 23.
Economists surveyed by Bloomberg had projected 830,000 initial claims and 4.7 million continuing claims.
Tomorrow brings the January monthly jobs report. Economists are expecting the economy to have added 100,000 jobs in January after losing 140,000 in december.
All these numbers arrive as Congress and the Biden administration negotiate the size of the next coronavirus stimulus/relief package.