?States reported that 183,000 workers filed for new unemployment benefits during the week ending Jan. 28, a decrease of 3,000 from the previous week’s level. Weekly jobless claims are near their lowest level since April 2022. The number of workers continuing to claim unemployment benefits—1.6 million—is below pre-pandemic levels.
Unemployment claims have consistently held at low levels, even as layoffs have accelerated in the technology sector. Economists say that the recently announced layoffs at tech firms like Amazon, Google and Microsoft are due to over-hiring during the COVID-19 pandemic. It is also believed that companies overall are reluctant to let workers go after having difficulties finding talent during the pandemic.
Tomorrow, the Department of Labor will report on how many jobs the U.S. economy added in January, the unemployment rate and wage gains for the month.
