The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending January 22, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending January 22 was 1,628,000, a decrease of 44,000 from the previous week's revised level. The previous week's level was revised down by 3,000 from 1,675,000 to 1,672,000. The 4-week moving average was 1,619,750, a decrease of 31,250 from the previous week's revised average. This is the lowest level for this average since August 4, 1973 when it was 1,608,750. The previous week's average was revised down by 750 from 1,651,750 to 1,651,000.ADP report of 301,000 jobs lost for January needs to be taken with a serious grain of salt. That's because ADP said there was a huge gain of jobs in December that didn't bear out in the "regular" monthly jobs report from the Bureau of Labor Statistics. Change in jobs, ADP Report
December 2021 +776,000
January 2022 -301,000
TOTAL +475,000 The ADP and BLS jobs report generally converge to similar totals over time. So if you take December's "disappointing" BLS report of 199,000 jobs, that would mean a gain of 276,000 jobs in January to equal the 2-month total in the ADP report. I'm just throwing a dart here, but the numbers we've seen wouldn't indicate that tomorrow's big jobs report won't be the brutal number that some are expecting. But it also was surveyed at the height of omicron infections 3 weeks ago, so who really knows what this number will mean as a future or even current indicator.