U.S. jobless claims jump 55,000 to three-month high of 286,000 as omicron bites

U,S. jobless claims jump 55,000 to three-month high of 286,000 as omicron bites

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1/20/2022 5:47:00 PM

U,S. jobless claims jump 55,000 to three-month high of 286,000 as omicron bites

Applications for U.S. unemployment benefits surged by 55,000 last week to 286,000 and hit a three-month high in a sign the omicron outbreak spurred some...

Economists polled by The Wall Street Journal had forecast initial jobless claims to total a seasonally adjusted 225,000 in the seven days ended Jan. 15.The number of people already collecting jobless benefits, meanwhile, rose by 84,000 to 1.64 million, the Labor Department said Thursday. These so-called continuing claims have returned to pre-crisis levels, however.

Economist warn against reading too much into the big increase last week. The government’s method of adjusting jobless claims for seasonal swings is often skewed from Thanksgiving through the Martin Luther King Jr. holiday. The problem has been made worse by the pandemic.

Read more: MarketWatch »

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U.S. Jobless Claims Rose to 286,000 Last WeekJobless claims rose sharply last week to 286,000. The labor market, a source of economic growth, faces headwinds as Omicron cases remain high. Don't worry Marty Walsh is all over it 🙄 Maybe companies getting rid of holiday seasonal workers. No? Will this be part of Tom Hanks' script........................

US jobless claims rise to 286,000, highest since OctoberWASHINGTON (AP) — The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant disrupted the job market. Jobless claims rose for the third straight week — by 55,000 to 286,000, highest since mid-October, the Labor Department reported Thursday.

New Jobless Claims Keep Unexpectedly Spiking As Omicron Surge ‘Taints’ Economic RecoveryThe number of Americans receiving unemployment benefits jumped above 1.6 million.

The end of the Omicron wave is in sightCOVID cases are falling dramatically in parts of the U.S. that got hit with the variant early, including Boston, New York and Washington, D.C. Great news! But it's also hard to get tests. Because few people have tests...they are just staying home sick and not getting tested.

Valneva Shares Jump After Early Study Show Covid-19 Vaccine Effective Against OmicronI am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter theroberthart or email me at rhartforbes.com