Initial Jobless Claims Rose by 23K to 248,000 in Week Ending Feb. 12

Washington, DC, February 17, 2022-In the week ending February 12, the advance figure for seasonally adjusted initial claims was 248,000, an increase of 23,000 from the previous week's revised level, according to the Department of Labor. 

The previous week's level was revised up by 2,000 from 223,000 to 225,000. The four-week moving average was 243,250, a decrease of 10,500 from the previous week's revised average. The previous week's average was revised up by 500 from 253,250 to 253,750.

According to the Wall Street Journal, while claims rose, they overall remain "...historically low, indicating the labor market is on strong footing as Covid-19 cases of the Omicron variant decline."