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U.S. Jobless Claims Decline for First Time in Four Weeks -Breaking

by Mike Robinson

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© Bloomberg. At a Coatesville factory, an employee welds a lawnmower framework. Photographer: Luke Sharrett/Bloomberg

(Bloomberg). — The number of applications for U.S. State Unemployment Insurance fell by a quarter of a million for the fourth week. This partially reverses a spike in recent claims due to the Omicron variant.

According to Labor Department data, initial unemployment claims were at a record low of 30,000 for the week ending Jan. 22. A Bloomberg survey of economists estimated that 265,000 applications were required.

After a recent surge in applications, there was a decline in application numbers due to increased Covid-19 cases. In the last year, claims have been falling mainly because companies want to keep and attract talented workers amid continuing labor shortages.

©2022 Bloomberg L.P.

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