US jobless claims decrease by 9,000

Americans lined up for unemployment benefits at a decelerated clip in the week ended 2 February, according to the Labor Department.

Initial jobless claims dropped by 9,000 to 218,000 from the prior week's upwardly revised value, slightly below estimates for a reading of 220,000 but firmly above the last two months' average and pointing to a slowing, yet, strong labor market.

Elsewhere, continuing claims dropped by 23,000 to 1.87m in the last week of January, while the four-week moving average jumped by 3,750 to 212,250.

Non-seasonal-adjusted claims fell by 31,192 to 232,727, with declines noted in Oregon, Ohio, and California, while increases were seen in Missouri and Texas.

Reporting by Iain Gilbert at Sharecast.com