#JoblessClaimsUp

Initial unemployment claims in the U.S. rose by 6,000 from the previous week, reaching 223,000 in the week ending January 18, slightly above market expectations of 220,000, marking the sharpest increase in six weeks. In turn, the number of continuing claims increased by 46,000 to 1,899,000 in the previous period, the highest figure since November 2021, suggesting that those without jobs are taking longer to find suitable work, and pointing to a greater impact of the Fed's restrictive interest rates on the U.S. labor market. The four-week moving average for initial claims, which smooths out weekly volatility, increased by 750 to 213,500. Meanwhile, the seasonally unadjusted claims count fell by 68,135 to 284,222. Source: U.S. Department of Labor.