U.S. initial jobless claims fall to 234,000

The number of Americans initially applying for unemployment aid fell to 234,000, echoing a stable job market.

In the week ending January 14, the advance figure of seasonally adjusted initial claims for jobless benefits was 234,000, a decrease of 15,000 from the revised level of the previous week, the U.S. Labor Department said Thursday.

This is better than the market expectation of 250,000. The four-week moving average, which helps smooth out week-to-week volatility decreased 10,250 from the previous week's revised average to 246,750.

This is the lowest level for this average since Nov. 3, 1973 when it was 244,000, said the Labor Department.

Meanwhile, the advance figure of seasonally adjusted insured unemployment during the week ending Jan. 7 fell 47,000 from the previous week to 2,046,000.

Total nonfarm payroll employment rose by 156,000 in December, and the jobless rate went up from November' s 4.6 percent to 4.7 percent, said the Labor Department earlier this month. Enditem