US jobless claims rise less than expected

The number of applications for unemployment benefits in the US rose last week, potentially raising concerns about a weak labor market at the start of the new year.

Data released Thursday by the US Labor Department showed that initial jobless claims increased by 8,000 compared to the previous week, reaching 208,000 for the week ending January 3.

This was less than the expected increase of 10,000 claims, from the revised figure of 200,000 for the previous week.

Meanwhile, the four-week moving average of jobless claims (a more accurate measure of labor market health) fell by 7,250 to 211,750, its lowest level since April 27, 2024.

Markets are now awaiting the US non-farm payrolls report for December, due tomorrow, with expectations that the US economy added 60,000 jobs last month.