As per the Challenger Jobs Report, the weekly claims data indicates something long term structurally more than a temporary effect from the "shut down". The increased Continued Job Claims corroborates this interpretation as well.
Unemployment insurance weekly claims
In the week ending January 26, the advance figure for seasonally adjusted initial claims was 253,000, an increase of 53,000 from the previous week's revised level. This is the highest level for initial claims since September 30, 2017 when it was 254,000. The previous week's level was revised up by 1,000 from 199,000 to 200,000. The 4-week moving average was 220,250, an increase of 5,000 from the previous week's revised average. The previous week's average was revised up by 250 from 215,000 to 215,250. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending January 19, unchanged ... (full story)
Added at 8:49am
U.S. weekly jobless claims jump to near one-and-a-half year high
The number of Americans filing applications for unemployment benefits surged to near a 1-1/2-year high last week, which could raise concerns that the labor market is slowing. Initial claims for state unemployment benefits jumped 53,000 to a seasonally adjusted 253,000 for the week ended Jan. 26, the highest level since September 2017, the Labor Department said on Thursday. The rise was also the largest since September 2017. Claims dropped to 200,000 in the prior week, which was the lowest level since October 1969. Economists polled by Reuters had forecast claims rising to only 215,000 in the latest week. The claims ... (full story)