The Labor Department said initial jobless claims climbed to 231,000, an increase of 22,000 from the previous week's unrevised level of 209,000.

With the bigger than expected increase, jobless claims reached their highest level since hitting 237,000 in the week ended December 6th.

The report said the less volatile four-week moving average also crept up to 212,250, an increase of 6,000 from the previous week's unrevised average of 206,250.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also rose by 25,000 to 1.844 million in the week ended January 24th.

Meanwhile, the four-week moving average of continuing claims fell to 1,850,750, a decrease of 14,750 from the previous week's revised average of 1,865,500.

The decrease dragged the four-week moving average of continuing claims down to its lowest level since hitting 1,845,750 in the week ended October 5, 2024.

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