US releases latest unemployment figures

The US Labour Department reports that first-time claims for state unemployment benefits were unchanged, as shown by latest figures.

The four-week average of initial claims held steady at 345,250 for the third consecutive week. This is the lowest level in three years.

The number of initial claims in the week ending January 31 increased by 17,000 to 356,000.

A Department official said bad weather in the mid-west and south-east of the US contributed to the increase, but could not quantify the impact.

Meanwhile, the number of Americans receiving state jobless benefits remained steady at 3.123 million for the week ending January 24.

The four-week moving average of continuing claims fell 38,750 to 3.123 million, the lowest since August 2001.