In the week ending Jan. 24, 588,000 Americans filed claims for unemployment coverage for the first time, according to the U.S. Department of Labor.
That’s an increase of 3,000 from the previous week’s revised figure of 585,000. The 4-week moving average was 542,500, an increase of 24,250 from the previous week.
The department said continued claims, those remaining on unemployment benefits after receiving a week of coverage, increased by 159,000 to 4.8 million, the highest reported total since the department began keeping records on unemployment claims in 1967.
