Glossary · Economy
Jobless claims
Jobless claims are the number of people applying for unemployment benefits each week: the fastest official signal of layoffs in the US.
Also called: initial jobless claims, unemployment claims, initial claims, weekly jobless claims, unemployment insurance claims
Week ending October 31, 2026. 4-week average: 194,800.
Week ending April 4, 2020. Record before 2020: 695,000.
In plain words
When someone in the US loses a job, one of the first things they do is apply to their state for unemployment benefits. Every Thursday the Department of Labor adds up the past week’s new applications across the country: those are the initial jobless claims.
Because they come out every week, only five days after the week ends, claims are the earliest hard data on layoffs. A steady low number means companies are keeping their workers; a fast climb is often the first sign of a recession.
In the week ending October 31, 2026 there were 189,000 new claims, seasonally adjusted. The average since 1967 is about 359,000, and the workforce was much smaller in the early years.
Example
Reading a claims report
- Initial claims: 230,000 this week, after 210,000, 215,000 and 225,000 in the three weeks before.
- Single weeks are noisy (holidays, storms, a big plant closing), so analysts use the 4-week average: (230 + 225 + 215 + 210) ÷ 4 = 220,000.
- Continuing claims, people still receiving benefits, show whether those laid off find new jobs quickly.
- Economists get worried when the 4-week average keeps rising for months, not when one week jumps.
In the latest week: 189,000 new claims, and a 4-week average of 194,800.
One level deeper
Claims undercount job losses: not everyone who is laid off is eligible or applies, and people who quit or are fired for cause usually cannot claim. They are best read as a trend.
The record came in the pandemic: 6,137,000 claims in the week ending April 4, 2020, 8.83 times the earlier record of 695,000 (October 2, 1982).
Claims are seasonally adjusted because layoffs follow the calendar: after the holidays, at the end of the school year, during summer shutdowns in car plants. The adjustment is hardest around holidays, so single weeks can mislead.
Weekly jobless claims since 1967
New claims for unemployment benefits on a log scale, so that the 2020 spike does not flatten everything else. Claims climbed in every recession since 1967.
The numbers behind the chart
| Date | Initial claims a week |
|---|---|
| Jan 1967 | 209,000 |
| Dec 1970 | 306,000 |
| Dec 1980 | 410,000 |
| Dec 1990 | 455,000 |
| Dec 2000 | 346,000 |
| Dec 2010 | 420,250 |
| Dec 2020 | 836,750 |
| Dec 2022 | 208,200 |
| Dec 2023 | 207,800 |
| Dec 2024 | 222,750 |
| Dec 2025 | 219,250 |
| Oct 2026 | 195,400 |
Why it matters
They are the most up-to-date official labor data: weekly, with a five-day lag, while the monthly jobs report takes weeks.
Markets and the Federal Reserve watch them for the first crack in the job market.
They track real hardship: each claim is a person who has just lost an income.
A common mistake
Myth: Low jobless claims mean nobody is losing their job.
In fact: Layoffs never stop: the economy destroys and creates millions of jobs every month. Even in the week ending October 31, 2026, 189,000 people filed a first claim. What matters is the trend of the 4-week average.
Questions people ask
When are jobless claims released?
Every Thursday at 8:30 in the morning, Eastern time, by the US Department of Labor, for the week that ended the Saturday before.
What is the difference between initial and continuing claims?
Initial claims are new applications in a week. Continuing claims count people who keep receiving benefits, a gauge of how hard it is to find a new job.
What is a high number of jobless claims?
It depends on the size of the workforce. Since 1967 the weekly average has been about 359,000; a 4-week average that climbs steadily for months matters more than any single week.
Read more on BigCapital
About the numbers
- The numbers on this page are recalculated from the data every night; the sources are listed at the end of the page.
- US recessions (NBER business cycle dates): National Bureau of Economic Research (NBER), Business Cycle Dating Committee: US Business Cycle Expansions and Contractions.
- Initial claims for unemployment insurance: U.S. Employment and Training Administration (Department of Labor), Unemployment Insurance Weekly Claims, series ICSA; retrieved from FRED, Federal Reserve Bank of St. Louis.
- This page explains a term. It is not investment advice.