The data from the Labor Department revealed on Thursday the number of applications for unemployment benefits fell more than expected last week.

According to the report, the initial claims for unemployment benefits decreased by 9,000 to a seasonally adjusted 214,000 for the week ended January 4.

Economists had expected 220,000 new claims last week.

Claims for the prior week were revised upwardly to 223,000 from the initial estimate of 222,000.

Meanwhile, the four-week moving average of claims fell 9,500 to 224,000 last week.