The number of Americans filing new applications for unemployment benefits rose marginally last week, suggesting no deterioration in labor market conditions and reinforcing expectations that the Federal Reserve would not cut interest rates next week.

Initial filings for unemployment benefits in Vermont dropped last week compared with the week prior, the U.S. Department of Labor said Thursday. New jobless claims, a proxy for layoffs, fell to 425 in the week ending January 18, down from 615 the week before, the Labor Department said.

Initial jobless claims for the week ended Jan. 18 increased 6K to 223K, just over 221K consensus and 217K prior (unrevised), according to data released by the D