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US Weekly Jobless Claims Rose by 23,000 to Nearly 230,000

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The number of Americans applying for unemployment benefits increased last week to the highest level since mid-November but remains low.

Source: US Department of Labor

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US jobless claims rose by 23,000 last week to 230,000. The four-week moving average increased by 6,300 to nearly 211,000.

The weekly applications, a measure for layoffs, have now increased four of the previous five weeks, a sign that the Omicron variant is having a major impact on the job market.

Overall, 1.6 million people were collecting jobless benefits the week that ended January 1st. Companies are still holding onto their workers in a time when it is challenging to find replacements.

Continuing claims, which provide an estimate of the number of people receiving benefits, dropped nearly 200,000 to 1.6 million in the week ended January 1.

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