More Americans file for unemployment benefits, continuing claims highest in 3 years
Jobless claims applications ticked up modestly last week, but the total number of Americans collecting unemployment benefits rose to their highest level in more than three years
ByMATT OTT AP business writer
January 23, 2025, 7:42 AM
Jobless claims applications ticked up modestly last week, but the total number of Americans collecting unemployment benefits rose to their highest level in more than three years.
Applications for jobless benefits rose by 6,000 to 223,000 for the week ending January 18, the Labor Department said Thursday. Analysts were expecting 219,000 new applications.
Weekly applications for jobless benefits are considered a proxy for layoffs.
The total number of Americans receiving unemployment benefits for the week of January 11 climbed by 46,000 to 1.9 million, the most since November of 2021.
The rising level of continuing claims, the total number of Americans collecting jobless benefits, suggests that some who are receiving benefits are finding it harder to land new jobs. That could mean that demand for workers is waning, even as the economy remains strong.
The four-week average of continuing claims is about 100,000 higher than it was a year ago.
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https://abcnews.go.com/Business/wireStory/americans-file-unemployment-benefits-week-continuing-claims-highest-118017154
