More Americans File For Unemployment Benefits

Jobless claims rose modestly last week, with the total number of Americans collecting unemployment benefits reaching the highest level in more than three years.

The increase in continuing claims suggests that some unemployed workers are finding it harder to secure new jobs.

Applications for jobless benefits increased by 6,000 to 223,000 for the week ending January 18, the Labor Department reported, Matt Ott wrote for the Associated Press (AP).

Economists had forecasted 219,000 new applications. Weekly jobless claims are seen as a proxy for layoffs, and the latest data signals a rise in unemployment. The total number of Americans receiving unemployment benefits for the week ending January 11 climbed by 46,000 to 1.9 million—the highest since November 2021.

The increase in continuing claims suggests that some unemployed workers are finding it harder to secure new jobs.

This trend may indicate softening demand for labor, even as the broader economy remains robust. The four-week moving average for continuing claims is about 100,000 higher than a year ago, further highlighting the challenges some job seekers face.