Weekly Jobless Claims Drop to 4-Month Low
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States reported that 190,000 workers filed for new unemployment benefits during the week ending Jan. 14, a decrease of 15,000 from the previous week's revised level. Weekly jobless claims are at their lowest level since late September 2022. The number of workers continuing to claim unemployment benefits—1.64 million—is below pre-pandemic levels.
The labor market remains resilient, despite inflation-fighting efforts by the Federal Reserve intended to slow the economy. The low level of new unemployment claims is an indicator that employers overall are not laying off large numbers of workers, despite yesterday's announcement that Microsoft is planning on cutting 10,000 jobs. Economists believe that companies are reluctant to let workers go after having difficulties finding talent during the pandemic.
Members may download one copy of our sample forms and templates for your personal use within your organization. Please note that all such forms and policies should be reviewed by your legal counsel for compliance with applicable law, and should be modified to suit your organization’s culture, industry, and practices. Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRM’s permission. To request permission for specific items, click on the “reuse permissions” button on the page where you find the item.
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