US Jobless Claims Drops for First Time in 2022

Source: US Labor Department

American unemployment claims declined for the first time so far this year, following three straight weeks of increases. DXY is up 0.65%, while Gold is down 1.03%.

• Seasonally adjusted initial claims for the week ending January 22 stood at 260,000, down 30,000 from the previous week’s revised level of 290,000.
• The four-week moving average increased by 15,000 to 247,000 from the previous week’s upwardly revised 232,000.
• The insured unemployment rate for the week ending January 15 was unchanged from the previous week at 1.2%.
• Insured unemployment for the week increased by 51,000 to 1.675 million from the 1.624 million the past week. 
• The four-week moving average stood at 1.651 million, down 10,750 from the previous week’s revised average of 1.662 million. 
• The latest moving average is the lowest since August 18, 1973’s level of 1.646 million.
• The biggest increases were in California, Kentucky, Puerto Rico, Rhode Island, and Virginia.
• The steepest declines were recorded in New York, Missouri, Washington, Michigan, and Texas.