The Labor Department reported that initial jobless claims declined again last week to its lowest level since April. The labor market continues to show strength, which is concerning as it is a key hurdle in the Federal Reserve’s fight against inflation. Demand for workers still far exceeds supply. Claims in regular state programs declined 3,000 to 183,000 for the week ending January 28th, after reporting 186,000 initial claims the prior week. The four-week moving average dropped to 191,750 from 197,500 the prior week. The total number of people continuing to receive regular ongoing state benefits, a report which is lagged one week, decreased by 11,000 to 1.655 million for the week ending January 21st.
Data methodology-12233
The Labor Department reported that initial jobless claims declined again last week to its lowest level since April. The labor market continues to show strength, which is concerning as it
