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Labor Department reports another drop in unemployment claims

Claims in Arizona are 25.45% lower than pre-COVID levels
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Posted at 10:58 AM, Feb 03, 2022
and last updated 2022-02-03 17:55:02-05

TUCSON, Ariz. (KGUN) — Fewer people applied for unemployment benefits for the second week in a row, with jobless claims falling to 238,000.

The Labor Department had reported 261,000 claims the previous week. That’s a difference of 23,000 claims.

According to WalletHub.com, unemployment claims in Arizona are 25.45% lower than pre-COVID levels.

The personal finance website broke down the Grand Canyon State's data, revealing:

  • Weekly unemployment claims in Arizona decreased by 25.45% compared to the same week in 2019. This was the 12th biggest decrease in the U.S.
     
  • Weekly unemployment claims in Arizona decreased by 15.84% compared to the start of 2020. This was the 20th smallest decrease in the U.S.
     
  • Weekly unemployment claims in Arizona decreased by 82.60% compared to the same week last year. This was the 10th biggest decrease in the U.S.

Per Scripps National, economists are optimistic about the Labor Department monthly jobs report scheduled to come out Friday.

Analysts forecast that the economy added about 175,000 jobs in January, saying the unemployment rate is expected to stay at 3.9%.

Economists believe the latest job market disruptions are over and job growth will pick up.