US Jobless Claims Fall for 2nd Week in a Row

The number of Americans filing for unemployment benefits decreased to 847 thousand in the week ended January 23rd 2021 from an upwardly revised 914 thousand in the previous week and compared with market expectations of 875 thousand. Still, claims are far from the 200 thousand level reported back in February and will likely remain elevated for some time as the pandemic is far from controlled.

On a non-seasonally adjusted basis, the number of claims totaled 874 thousand, a decrease of 101 thousand from the previous week. Also, about 427 thousand people applied for help from the Pandemic Unemployment Assistance scheme, which covers workers that do not qualify for initial claims.