Jobless Claims Rise Slightly in Mid-January
MarketWatch (01/23/20) Bartash, Jeffry
The number of people who applied for unemployment benefits in mid-January edged up, but layoffs remain near a 50-year low and there’s no sign of deterioration in the most robust labor market in decades. Jobless claims rose by 6,000 to 211,000 in the week ended Jan. 18, according to the U.S. Department of Labor. The figures are seasonally adjusted. The monthly average of claims dropped by 3,250 to 213,250.
New unemployment claims are viewed as an approximate measure of how many people are losing their jobs. They briefly dropped below 200,000 last April to a 50-year low and have hovered in the low 200,000s since then.
The economy is growing more slowly, but consumers continue to spend. As a result, companies are under little pressure to cut payrolls with sales still growing and skilled labor in short supply.
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