New unemployment claims fell for the second straight week, dropping 23,000 from the week prior to 238,000, a sign of continued job growth under President Joe Biden’s administration and economic recovery from the COVID-19 pandemic.
The four-week average for claims, which compensates for weekly volatility, rose by nearly 8,000 to 255,000.
In total, 1.6 million Americans were collecting jobless aid the week that ended Jan. 22, a slight drop from the previous week.
The Associated Press contributed to this report.
