Jan. 23 (UPI) — The number of people filing unemployment benefits for the first time grew to a seasonally adjusted 223,000 last week, the highest one-week total in more than a month, according to Labor Department figures released on Thursday. The figure for the week ending Jan. 18 was 6,000 higher than the previous week’s unrevised total of 217,000. It was the most since the week ending Dec. 7, when 242,000 applied for weekly unemployment insurance for the first time.
The figure of those filing for jobless benefits is examined by the federal government and Federal Reserve as a snapshot on workforce stability.
The four-week moving average for applying for unemployment benefits was 213,000, an increase of 750 from the previous week’s total of 212,750.
The Labor Department said the total number of people filing for unemployment benefits for the week ending Jan. 11, was 1.899 million, an increase of 46,000 from the previous week. It was the highest level since the week ending Nov. 13, 2021, with 1.974 million filings.
The four-week moving average for overall benefit applications was 1,865,750, an increase of 500 from the week before.