avatar

The number of Americans filing for jobless benefits rose last week to the highest level in 11 weeks, though layoffs remain at historically low levels.

Applications for unemployment benefits climbed to 224,000 for the week ending Jan. 27, an increase of 9,000 from the previous week, the Labor Department reported Thursday.

The four-week average of claims, a less volatile measure, rose by 5,250, to 207,750.

Weekly unemployment claims are seen as a proxy for the number of U.S. layoffs in a given week. They have remained at extraordinarily low levels despite efforts by the U.S. Federal Reserve to cool the economy.

Though layoffs remain at low levels, there has been an uptick in job cuts recently across technology and media. Google parent company Alphabet, eBay, TikTok and the Los Angeles Times have all recently announced layoffs.

Outside of tech and media, UPS, Macy’s and Levi’s also recently cut jobs.

Overall, 1.9 million Americans were collecting jobless benefits during the week that ended Jan. 20, an increase of 70,000 from the previous week. That’s the most since mid-November.