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Jobless claims jump to highest level since mid-November

DowjonesNews MarketWatch ·  Jan 13, 2022 13:50  · Markets

By Greg Robb

Continued claims fall to lowest level since 1973

The numbers: Initial jobless claims rose by 23,000 to 230,000 in the week ended Jan. 8, the Labor Department said Thursday.  It's the highest level since mid-November.

Economists polled by The Wall Street Journal had estimated new claims would slip to 200,000.

Key details: The number of people already collecting jobless benefits plunged by 194,000 to 1.56 million. This is the lowest level of so-called continuing claims since June 1973.

Big picture: Even with the gain in claims in the latest week, economists said a downward trend remains intact. With workers scarce, companies are simply not laying off their staff.

Market reaction: Stocks were expected to open higher on Thursday as investors turn their focus to corporate earnings.

-Greg Robb

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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Comment Comment 3 · Views 12k

Comment(3)

  • user-avatar
    NgKennykk

    Ohhh

    Jan 13, 2022 18:17
  • user-avatar
    DJONPOINT

    Lol mid November was 2 months ago 😂😂

    Jan 13, 2022 18:47
  • user-avatar
    KDevil87

    Looks like us economy turning for the worst.

    Jan 13, 2022 22:16

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