More Americans file for unemployment benefits last week, continuing claims highest in 3 years

Jobless claims applications ticked up modestly last week, but the total number of Americans collecting unemployment benefits rose to their highest level in more than three years

Unemployment Benefits (Copyright 2020 The Associated Press. All rights reserve)

Jobless claims applications ticked up modestly last week, but the total number of Americans collecting unemployment benefits rose to their highest level in more than three years.

Applications for jobless benefits rose by 6,000 to 223,000 for the week ending January 18, the Labor Department said Thursday. Analysts were expecting 219,000 new applications.

The total number of Americans receiving unemployment benefits for the week of January 11 climbed by 46,000 to 1.9 million, the most since November of 2021.

The four-week average of claims, which evens out some of the week-to-week gyrations, inched up by 750 to 213,500.

Weekly applications for jobless benefits are considered a proxy for layoffs.