U.S. Economic News

January 14, 2021

U.S. Economic Indicators

Initial jobless claims rose 181,000 to 965,000 last week. The four-week moving average increased 18,250 to 834,250. DOL Report

U.S. News

The Wall Street Journal reports that initial jobless claims reached their highest level in nearly five months last week, as the surge in COVID-19 cases triggered a wave of layoffs to begin the new year. Although initial claims tend to rise immediately after the holidays even in typical years, the magnitude of this year’s spike suggests that increasing COVID-19 cases and fresh business restrictions in some areas are exerting renewed pressure on the labor market. WSJ