US initial jobless claims dropped to 847k, continuing claims down to 4.77m

<p>US initial jobless claims dropped -67k to 847k in the week ending January 23, below expectation of 875k. Four-week moving average of initial claims rose 16.3k to 868k. Continuing claims dropped -203k to 4771 in the week ending January 16. Four-week moving average of continuing claims dropped -106.8k to 4998k. Full release here.</p>
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