U.S. Jobless Claims Rise to 223,000

For the week ending January 18, seasonally adjusted initial jobless claims totaled 223,000, reflecting an increase of 6,000 from the prior week’s unrevised figure of 217,000.

The 4-week moving average of initial claims rose slightly by 750, reaching 213,500 compared to the previous week’s average of 212,750.

Insured Unemployment Reaches Two-Year High

The seasonally adjusted insured unemployment rate for the week ending January 11 remained steady at 1.2%, unchanged from the prior week’s unrevised rate. However, the number of insured unemployed individuals rose by 46,000 to 1,899,000, marking the highest level since November 2021, when it stood at 1,974,000. The prior week’s insured unemployment figure was revised down by 6,000, from 1,859,000 to 1,853,000.

4-Week Moving Averages Show Gradual Increases

The 4-week moving average for insured unemployment increased by 500, rising to 1,865,750. This was slightly higher than the previous week’s revised average of 1,865,250, which had been revised downward by 1,500 from an initial estimate of 1,866,750.

The latest data highlights a modest uptick in both unemployment claims and insured unemployment levels, signaling a potential cooling in the labor market.

Source:U.S. Department of Labor