Jobless claims: Another 260,000 individuals filed new claims last week

[mahatmakanejeeves]

Source: Yahoo! Finance

Yahoo Finance

Jobless claims: Another 260,000 individuals filed new claims last week

Alexandra Semenova · Reporter
Thu, January 27, 2022, 8:31 AM · 3 min read

First-time unemployment filings ticked slightly lower last week after notching a three-month high in the previous reading amid renewed virus-related disruptions.

The Labor Department released its weekly jobless claims report at 8:30 a.m. ET on Thursday. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg:

-- Initial jobless claims, week ended Jan. 22: 260,000 vs. 265,000 expected and upwardly revised to 290,000 during prior week

-- Continuing claims, week ended Jan. 15: 1.675 million vs. 1.655 million expected and downwardly revised to 1.624 million during prior week

The agency's print from the previous week reflected the third straight increase for initial jobless claims, reversing some progress from the recent downward trajectory of filings. Claims came in near the 300,000 level at 286,000 in an unexpected jump from the revised tally of 231,000 in the prior period and up sharply from consensus economist forecasts of 225,000.

A rush in U.S. workers applying for unemployment insurance was attributed to disruptions from the Omicron COVID-19 variant and adjusted workforces following the seasonal hiring increase during the holidays. In December, claims reached a half-century low of 188,000 as employers attempted to retain workers amid labor shortages.

{snip}

Read more: https://finance.yahoo.com/news/weekly-unemployment-claims-week-ended-jan-22-2022-215506502.html

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Sorry, I don't have the predicted numbers. Emily McCormick covered the GDP, and the initial unemployment claims article was written by Alexandra Semenova. You'll have to blame her for all your problems today.

[mahatmakanejeeves]

1. From the source:

The boilerplate of the report has been changed just a little. The program contact person and number have changed. The change was made three weeks ago. The report from three weeks ago was the first with the new name and number.

Hat tip to the new guy, Kevin Stapleton.

https://www.dol.gov/ui/data.pdf

News Release

Connect with DOL at
https://blog.dol.gov

TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL
8:30 A.M. (Eastern) Thursday, January 27, 2022

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS

SEASONALLY ADJUSTED DATA

In the week ending January 22, the advance figure for seasonally adjusted initial claims was 260,000, a decrease of 30,000 from the previous week's revised level. The previous week's level was revised up by 4,000 from 286,000 to 290,000. The 4-week moving average was 247,000, an increase of 15,000 from the previous week's revised average. The previous week's average was revised up by 1,000 from 231,000 to 232,000.

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending January 15, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending January 15 was 1,675,000, an increase of 51,000 from the previous week's revised level. The previous week's level was revised down by 11,000 from 1,635,000 to 1,624,000. The 4-week moving average was 1,651,750, a decrease of 10,750 from the previous week's revised average. This is the lowest level for this average since August 18, 1973 when it was 1,646,750. The previous week's average was revised down by 1,750 from 1,664,250 to 1,662,500.

{snip}

UNADJUSTED DATA

{snip}

The total number of continued weeks claimed for benefits in all programs for the week ending January 8 was 2,140,986, an increase of 8,444 from the previous week. There were 19,048,138 weekly claims filed for benefits in all programs in the comparable week in 2021.

{snip the rest of the twelve-page news release, until the end}

Weekly Claims Archives
Weekly Claims Data

U.S. Department of Labor news materials are accessible at http://www.dol.gov. The Department's Reasonable Accommodation Resource Center converts Departmental information and documents into alternative formats, which include Braille and large print. For alternative format requests, please contact the Department at [phone] (voice) or [phone] (federal relay).

U.S. Department of Labor
Employment and Training Administration
Washington, D.C. 20210
Release Number: USDL 22-144-NAT

Program Contacts:
Kevin Stapleton: [phone]
Media Contact: [phone]

[greenjar_01]

2. ANOTHER!