US weekly jobless claims rise to three-month high


WASHINGTON: The number of Americans filing new claims for unemployment benefits jumped to a three-month high, likely as a winter wave of Covid-19 infections disrupted business activity, which could constrain job growth this month.
Initial claims for state unemployment benefits surged 55,000 to a seasonally adjusted 286,000 for the week ended January 15, the highest level since mid-October, the Labor Department said on Thursday. The increase was the largest since last July. Claims have now risen for three straight weeks.
“Even with the usual noise in the numbers they seem to reflect the record rise in Covid-19 cases from Omicron,” said Robert Frick, corporate economist at Navy Federal Credit Union in Vienna, Virginia.
“Fortunately Omicron is peaking and if past patterns hold, claims should drop quickly in the next two to three weeks.”
Economists polled by Reuters had forecast 220,000…

Source link



Please enter your comment!
Please enter your name here