United States Initial Jobless Claims2022 Data | 2023 Forecast

The number of Americans filing new claims for unemployment benefits rose by 23 thousand from the previous period, the most in 8-weeks, to 230 thousand in the week ending January 8th, compared with market expectations of 200 thousand, as a surge in coronavirus cases led by the Omicron variant disrupted activity from airlines to schools. Still, claims remained below their pre-pandemic level, suggesting labor market conditions continued to tighten as the US economy expanded at a solid pace and demand for labor remained strong. Claims hit a 52-year low of 188 thousand during the first week of December. On a non-seasonally adjusted basis, initial claims jumped by 104 thousand to 419 thousand, with notable increases being recorded in California (12.8 thousand), New York (10.8 thousand), Texas (9.4 thousand), Kentucky (8.5 thousand), and Missouri (7.3 thousand).

The number of Americans filing new claims for unemployment benefits increased by 7 thousand to 207 thousand in the week ending January 1st from an upwardly revised 200 thousand in the previous period and compared to market expectations of 197 thousand. Still, claims remained below the levels seen before the Covid-19 pandemic, when claims were averaging around 215,000. The 4-week moving average of claims, which removes week-to-week volatility, rose to 204.5 thousand, an increase of 4.75 thousand from the previous week's revised average of 199.75 thousand. On a non-seasonally adjusted basis, initial claims rose by 57.6 thousand to 315.47 thousand with notable increases being recorded in New York (+8,922), Pennsylvania (+6,806), Connecticut (+5,992), Washington (+4,578) and Michigan (+4,559).

The number of Americans filing new claims for unemployment benefits dropped by 8 thousand from the previous period to 198 thousand in the week ending December 25th, remaining close to a 52-year low of 188 thousand hit at the beginning of the month and below market expectations of 208 thousand. The job market continued to show signs of recovery, helped by a fast-recovering economy and as many employers seek to retain workers amid reports of severe labor shortages. The 4-week moving average of claims, which removes week-to-week volatility, dropped to 199.25 thousand, the lowest level since October 1969. On a non-seasonally adjusted basis, however, initial claims were slightly up by 1.1 thousand to 256 thousand, with notable increases being recorded in New Jersey (4.6 thousand), Pennsylvania (3.3 thousand), Michigan (2.8 thousand) and Ohio (2.5 thousand), and the largest declines being reported in California (-6.6 thousand), Texas (-4.3 thousand) and Virginia (-2.1 thousand).