US jobless claims increase less than expected

WASHINGTON: The number of Americans filing for unemployment benefits rose less than expected last week, pointing to tightening labor market conditions.

Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted 233,000, for the week ended Jan. 20, the Labor Department said on Thursday.

Economists polled by Reuters had forecast claims rising to 240,000 in the latest week. Claims have been volatile in recent weeks because of difficulties adjusting the data for seasonal fluctuations around year-end and the start of a new year. Unseasonably cold temperatures also had an impact on the data.