Latest News

U.S. Jobless Claims Fell by More Than Forecast Last Week to 223,000

0

2/2
© Bloomberg. A worker checks dried dyed fiber at a raw stock dye house in Philadelphia, Pennsylvania. Photographer: Hannah Yoon/Bloomberg
2/2

(Bloomberg) — Applications for U.S. state unemployment insurance fell for a third week as Covid-19 cases continue to drop, solidifying the labor market’s strength after an omicron-induced spike in claims.

Initial unemployment claims decreased by 16,000 to 223,000 in the week ended Feb. 5, Labor Department data showed Thursday. The median estimate called for 230,000 applications in a Bloomberg survey of economists.

Continuing claims for state benefits were unchanged at 1.62 million in the week ended Jan. 29.

Claims have been falling for the past few weeks as the labor market gets back on track from the spread of the omicron variant, which led to a surge in unemployment applications over the new year. More broadly, claims are trending toward pre-pandemic levels as companies struggle to retain and attract talent amid ongoing labor shortages, keeping layoffs at a record low.

On an unadjusted basis, initial claims decreased to 228,909 last week. 

Kentucky, Tennessee and Illinois were states registering the biggest decreases in unadjusted claims. Michigan had the largest increase.

©2022 Bloomberg L.P.

U.S. Jobless Claims Fell by More Than Forecast Last Week to 223,000

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

U.S. Inflation Charges Higher With Larger-Than-Forecast Gain

Previous article

This is what both Suze Orman and Ramit Sethi say you should do if you’re worried about inflation

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News