Last week, unemployment claims rose unexpectedly. This could be a sign of the impact of the wintertime micron surge on the job market.

January 15th, 2008 saw initial filings totaling 286,000. That’s well above the Dow Jones estimation of 225,000. It also represents an important gain over last week’s 231,000.

This total is the highest recorded since Oct. 16-2021, marking a turnaround after claims had fallen to their lowest point in over 50 years just weeks before.

The week-to-week moving average for continuing claims rose 84,000 to 1.64million. A bright spot was the fact that the weekly moving average for continuing claim, which accounts for week-to-week volatility, fell to 1.664 million over the past four weeks. This is the lowest point since April 27, 2019,

According to Jan. 1 data, the total number of recipients for all programs to help with unemployment increased by 180,114 to 21.3 million.

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