Feb 2, 2023 | Politics

Jobless Claims Fall Again as ‘Extremely Tight’ Labor Market Rolls On

Jobless Claims Fall Again as 'Extremely Tight' Labor Market Rolls On

The number of people applying for jobless benefits in the U.S. fell again last week, the third week in which new claims have come in below 200,000.

The Labor Department said initial claims for state unemployment benefits fell to 183,000 in the week ended January 28, down from 186,000 a week prior. This is the lowest level of new claims since April of last year.

Claims can be volatile from week to week, so many economists prefer to look at the four-week moving average of claims. This fell by 5,750 from the prior week to 191,750. This is the second consecutive week in which the four-week average has been below 200,000.

Continuing claims get reported with a one-week lag.  For the week ended January 21, continuing claims fell by 11,000 to 1,655,000. The previous week’s level was revised down by 9,000 from 1,675,000 to 1,666,000. The 4-week moving average fell by 10,500 to…

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