There were 779,000 applications for unemployment filed in the week ending January 3, according to figures released this morning by the U.S. Department of Labor. That number is better than expected and represents a decrease of 33,000 claims from the previous week’s level, which itself was revised down by 35,000 to 812,000 claims. This is the third consecutive week that claims have trended lower, but they still remain at a level not seen prior to the pandemic. Claims have generally mirrored the trajectory of the pandemic, such that an increase or decrease in COVID-19 cases has meant a rise or fall in unemployment claims.
The monthly jobs report for January will be released Friday, with the economy is expected to have added about 50,000 jobs. If so, that would be an improvement after the decline in employment seen in December, but still not nearly what is needed to restore the economy to pre-pandemic levels. According to today’s numbers, 17,835,525 people are currently claiming unemployment benefits through all government programs.
Unemployment claims down for most recent week, with 779,000 filed
