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Initial Jobless Claims Unexpectedly Spike To Start The Year

Tyler Durden's Photo
by Tyler Durden
Thursday, Jan 13, 2022 - 08:48 AM

The number of actual Americans filing for jobless benefits for the first time spiked to 419k in the first week of 2022. That is the highest since May 2021.

Seasonally-adjusted, initial claims also rose notably to 230k (against 200k expected)

Source: Bloomberg

And while continuing claims on a seasonally-adjusted basis dropped to 1.559mm - pre-COVID-lockdown levels - on a non-seasonally-adjusted basis, continuing claims jumped to 2.056mm, the highest since mid-October.

Source: Bloomberg

And overall, the number of Americans filing for some form of unemployment benefit rose from 1.722mm to 1.948mm (unadjusted)...

Source: Bloomberg

Is this the Omicron effect?

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