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