According to the Department of Labor, initial jobless claims in today’s Unemployment Insurance Weekly Claims Report rose in the week ending January 15.
In the week ending January 15, the advance figure for seasonally adjusted initial claims was 286,000, an increase of 55,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 230,000 to 231,000. The 4-week moving average was 231,000, an increase of 20,000 from the previous week's revised average. The previous week's average was revised up by 250 from 210,750 to 211,000.
55,000 workers in the US were handed their walking papers last week. That’s 55,000 jobs that are either going unfilled or just going away.
The economy is slowing. Recession (even with inflation) is coming….
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