Initial filings for unemployment benefits in Utah decreased during the third week of January compared to the previous week, according to the U.S. Department of Labor. New jobless claims, which provide insight into layoffs, fell to 1,224 in the week ending January 20, from 1,735 the week before.

On a broader scale, unemployment claims across the U.S. rose to 214,000 last week, an increase of 25,000 claims from the prior week on a seasonally-adjusted basis.

While Wisconsin saw a significant increase in weekly claims, with a jump of 18.6%, North Dakota experienced the largest percentage drop in new claims, declining by 43.2%.

Despite recent increase in layoff headlines at the start of 2024, economists do not necessarily see this as a forecast of the labor market’s future.