Zhitong Finance and Economics learned that the number of initial claims for unemployment benefits in the United States in the week to January 27 was 2180,000 people, expected 220,000 people, the previous value of 2240,000 people. U.S. initial jobless claims fell for the first time in three weeks, suggesting that employers are still largely retaining employees.
Continuing jobless claims fell to 1.87 million in the week ended Jan. 27.
The job market has been surprisingly strong in recent months, driving consumer spending. But recent high-profile announcements of layoffs by companies such as United Parcel Service and the tech industry as a whole could signal a slowdown in demand for employees in the coming months.
Weekly jobless claims tend to be erratic. The four-week moving flat**, which helped smooth out short-term volatility, rose to 212,250, the highest since late December.
Unadjusted initial jobless claims, which do not account for seasonal changes, fell by more than 310,000 people, to about 23270,000 people. The declines were relatively broad across states, with larger declines in Oregon and Ohio.
Economist Eliza Winger said, "Initial jobless claims continue to show a relatively low rate of layoffs. Unadjusted data shows jobless claims similar to last year, but with some weather-related disruptions. Still, the number of people filing for unemployment benefits is likely to rise in the coming weeks as news of a series of layoffs emerges. ”