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Jobless claims jump to 286,000, the highest level since October

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Jobless claims took an unexpected turn higher last week in a potential sign that the wintertime omicron surge was hitting the employment picture.

Initial filings for the week ended Jan. 15 totaled 286,000, well above the Dow Jones estimate of 225,000 and a substantial gain from the previous week’s 231,000.

The total was the highest since the week of Oct. 16, 2021, and marks a reversal after claims just a few weeks ago hit their lowest level in more than 50 years.

“Omicron has put a wrench in where we stand on the labor market front, but with hiring challenges, employers are likely trying to hold onto their workforce,” said Mike Loewengart, managing director of investment strategy at…



Source cnbc.com

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