01/18/2024

U.S. Weekly Jobless Claims Fall to Level Last Seen in September 2022

This suggests job growth likely remained solid in January

The number of Americans filing new claims for unemployment benefits fell last week to the lowest level since late 2022, suggesting job growth likely remained solid in January.

Initial claims for state unemployment benefits dropped 16,000 to a seasonally adjusted 187,000 for the week ended Jan. 13, the lowest level since September 2022, the Labor Department said on Thursday. Economists polled by Reuters had forecast 207,000 claims for the latest week.

Claims data tend to be volatile at the turn of the year. The labor market is gradually easing, with employers generally reluctant to lay off workers following difficulties finding labor during and after the COVID-19 pandemic.

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