Jobless claims rose for the third straight week — by 55,000 to 286,000, highest since mid-October, the Labor Department reported Thursday.
The four-week average of claims, which smooths out weekly volatility, rose by 20,000 to 231,000, highest since late November. Economists said that last week's claims may have been inflated by the Labor Department's attempts to tweak the numbers to account for seasonal variations; unadjusted, applications fell last week by more than 83,000.
In this photo illustration, a person files an application for unemployment benefits on April 16, 2020, in Arlington, Virginia. While the fast-moving omicron variant may cause less severe disease on average, COVID-19 deaths in the U.S. are climbing and modelers forecast 50,000 to 300,000 more Americans could die by the time the wave subsides in mid-March.
A surge in COVID-19 cases has set back what had been a strong comeback from last year’s short but devastating coronavirus recession. Jobless claims, a proxy for layoffs, had fallen mostly steadily for about a year and late last year dipped below the pre-pandemic average of around 220,000 a week.Companies are hanging on to workers they have at a time when it’s difficult to find replacements. Employers posted 10.
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