US initial jobless claims rose by 9,000 in the week ended Jan. 27 to a total of 224,000 — their highest level since the week of Nov. 11, 2023, the US Department of Labor reported today. The previous weeks level was revised upward by 1,000.

The Associated Press reported layoffs remain at historically low levels. However, economists polled by Reuters had forecast 212,000 applications for the latest week.

The four-week moving average of initial claims increased by 5,250 in the latest week to a level of 207,750. The previous week’s average was revised upward by 250.