| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3943 Registered: 05-2011 Posted From: 24.164.46.35 Rating: N/A |
Initial jobless claims spike to highest level since October Initial claims for the week ending January 15 increased by 55,000 to 286,000 (Briefing.com consensus 211,000) while continuing claims for the week ending January 8 increased by 84,000 to 1.635 million. The key takeaway from the report is that it is apt to be construed as a sign of the negative impact the Omicron variant is having on the labor market since it is the highest initial claims number since October; moreover, this report includes the week in which the survey for the January employment report was conducted, so the higher print could dial down expectations for the gain in January nonfarm payrolls. The four-week moving average for initial claims increased by 20,000 to 231,000. The four-week moving average for continuing claims decreased by 55,250 to 1,664,250. The total number of continued weeks claimed for benefits in all programs for the week ending January 1 was 2,128,752, an increase of 180,114 from the previous week. In the same week a year ago, there were 16,946,982 weekly claims filed for benefits in all programs. |