First-time unemployment filings fall under 200,000

Jan. 19 (UPI) -- The number of U.S. residents filing first-time jobless claims last week tumbled under 200,000 for the first time since September, while the four-week moving average also dropped by 6,500, according to the latest report by the Labor Department released Thursday.

The department said a seasonally adjusted 190,000 filed for unemployment insurance for the first time in the week ending Jan. 14. The last time it was that low was Sept. 24. First-time jobless filings had been above the 200,000 weekly mark ever since.

Those filing for unemployment insurance reached 241,000 for the week ending Nov. 19, the high during that stretch before its uneven pace downward. It also marked the third straight week filings showed a decrease.

Weekly first-time unemployment claims fell to a 2022 low of 166,000 on March 19 before it started its slow climb for the remainder of the year.

The department reported the four-week moving average for initial filings dropped to 206,000, a decline of 6,500 from the previous week of 212,500.

The total for all workers filing for unemployment benefits for the week ending Jan. 7, though, increased to a seasonally adjusted 1.65 million, up 17,000 from the week before. The four-week moving average over that time was 1.67 million, a decrease of 5,500 from the previous week's 1.68 million.