US jobless claims climb to 207K — but still historically low

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US jobless claims climb to 207K — but still historically low
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The numbers suggest a limited initial impact from the Omicron variant, which drove a surge in COVID-19 cases and renewed pandemic-related concerns for businesses.

“New jobless claims are up a bit in the latest week but remain close to the lowest levels in decades,” Mark Hamrick, senior economic analyst at Bankrate, told the Associated Press. “This suggests workers can be reasonably confident about job security and an upbeat employment outlook for this year.”

Approximately 1.75 million Americans were claiming unemployment benefits for the week ending on Dec. 25, for an increase of 36,000 compared to the previous week. According to the Department of Labor, the numbers have improved significantly since the start of the pandemic.The number of American workers filing unemployment claims rose by 7,000 in the first week of the new year, but still remained historically low.Earlier this week, the Labor Department reported a record 4.5 million Americans quit their jobs in November. That same month, US employers posted 10.6 million job openings.

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