Data Point to Stronger Job Market

The number of Americans filing initial claims for unemployment benefits fell last week and an index of future economic activity rose for a 10th month in January, suggesting that stronger growth may help hiring, reports showed Thursday.

Initial applications fell to 344,000 in the week ended Saturday from 368,000 a week earlier, the Labor Department said.

The New York-based Conference Board’s index of leading economic indicators, which anticipates how the economy will perform in the next six months, rose 0.5% last month after a 0.2% rise in December.

The drop in claims for unemployment benefits last week reflected declines in the states that had reported weather-related increases in the previous two weeks, the Labor Department said. The decrease was the first since the week ended Jan. 24, when the number fell to 339,000 and matched the lowest since January 2001.

The four-week moving average of claims, a less volatile indicator, rose to 352,000 from 351,750, the Labor Department said.

The number of people continuing to collect state jobless benefits jumped to 3.186 million, the highest this year, in the week that ended Feb. 7 from 3.080 million a week earlier.