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The U.S. Labor Department released the number of initial jobless claims on Thursday. The number of initial jobless claims in the week ending January 03 in the U.S. fell by 4,000 to 294,000 from 298,000 in the previous week. Analysts had expected the number of initial jobless claims to decrease to 291,000.
These figures are adding to signs a strengthening labour market.
The number of initial jobless claims has remained below 300,000 for 17 straight weeks.
The ADP report was released yesterday. It also showed an improvement of labour market. Private sector in the U.S. added 241,000 jobs in December, according the ADP report.
Official labour market data will be released tomorrow. Analysts expect that U.S. unemployment rate is expected to decline to 5.7% in December from 5.8% in November. The U.S. economy is expected to add 241,000 jobs in December.
The improving U.S. labour market could mean that the Fed will start to hike its interest rate sooner than expected.
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