Initial jobless claims rose to 231k (vs 212k expected) in the week ending Jan. 31 (+22k WoW), indicating a pickup in new filings after recent stability.

• Initial claims (SA) increased to 231,000 from 209,000 (+22,000 WoW) and were above the prior-year level of 222,000, showing both weekly and YoY increases.

• Initial claims (NSA) climbed to 251,651 from 231,633 (+20,018 WoW) but remained below the January 17 level of 272,436, reflecting seasonal volatility alongside a weekly rise.

• The 4-week moving average of initial claims (SA) rose to 212,250 (+6,000 WoW) but stayed below the prior-year average of 217,750, pointing to a still-lower underlying trend versus last year.

• Insured unemployment (SA) increased to 1.844M from 1.819M (+25k WoW) and remained slightly below the prior-year level of 1.874M, indicating more continuing claimants than last week but fewer than a year ago.

• Insured unemployment (NSA) rose to 2.214M from 2.137M (+77,732 WoW) but stayed below the prior-year level of 2.252M, consistent with a seasonal rebound in unadjusted claims.

• The 4-week moving average of insured unemployment (SA) declined to 1.851M (-14,750 WoW), suggesting some easing in the longer-run trend of continuing claims.

• The insured unemployment rate held steady at 1.2% SA and 1.4% NSA, showing no change in the share of workers receiving benefits.

• Federal program claims fell, with UCFE down to 568 (-230 WoW) and UCX down to 337 (-65 WoW), indicating fewer new filings among federal employees and recently discharged veterans.