Jobless Claims Reach Highest Level Since October in the United States

Jobless Claims Reach Highest Level Since October in the United States

Jobless Claims Reach Highest Level , Since October in the United States.

CNBC reports jobless claims in the United States have taken a turn for the worse.

As this winter's surge of the Omicron variant continues, filings for the week ending Jan.

15 totaled 286,000.

Experts say this is a substantial gain from the previous week's 231,000 new filings.

The exploding amount of jobless claims comes after they were at their lowest levels in over 50 years just weeks ago.

The exploding amount of jobless claims comes after they were at their lowest levels in over 50 years just weeks ago.

Omicron has put a wrench in where we stand on the labor market front, Mike Loewengart, managing director of investment strategy at E-Trade, via CNBC.

... but with hiring challenges, employers are likely trying to hold on to their workforce.

, Mike Loewengart, managing director of investment strategy at E-Trade, via CNBC.

Market experts are hopeful that the unexpected rise in jobless claims is a flash in the pan.

...This could be a short-term surge in jobless claims. , Mike Loewengart, managing director of investment strategy at E-Trade, via CNBC.

According to CNBC, the total amount of recipients receiving unemployment compensation in the United States rose to 2.13 million through Jan.

1.

In all, the country's unemployment rate has fallen to 3.9%.

Per the U.S. Department of Labor, the total employment level in the country remains 2.9 million less than in February 2020, just preceding the onset of the COVID-19 pandemic