And initial claims rose slightly and continuing claims rose more:
The number of Americans on benefit rolls climbed to a more than three-year high, while first-time applications for US unemployment insurance edged slightly higher.
Continuing claims, a proxy for people who are already receiving benefits and still can’t find a job, jumped to 1.9 million in the week ended Jan. 11, the highest since November 2021, according to Labor Department data released Thursday. Initial claims increased by 6,000 to 223,000 last week.
The continuing claims were 1.86M last week, and 4-week moving average rose slightly to 213,500.
As an aside because of the California fires, it appears that we are not getting accurate data from the Golden State in addition to the disaster causing significant dislocations.
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