The Labor Department released a report on Thursday showing a modest decrease in first-time claims for U.S. unemployment benefits in the week ended February 7th.

The report said initial jobless claims dipped to 227,000, a decrease of 5,000 from the previous week's revised level of 232,000.

The smaller-than-expected decline came a week after jobless claims reached their highest level in nearly two months.

Meanwhile, the Labor Department said the less volatile four-week moving average rose to 219,500, an increase of 7,000 from the previous week's revised average of 212,500.

The report also said continuing claims, a reading on the number of people receiving ongoing unemployment benefits, climbed by 21,000 to 1.862 million in the week ended January 31st.

The four-week moving average of continuing claims still fell by 3,250 to 1,846,750, the lowest level since the week ended October 5, 2024.

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