Although it increased last week, the number of Americans claiming for unemployment benefits is still at historically high levels.
The Labor Department said Thursday that the number of applications for unemployment benefits increased by 9,000 to 224,000 for the week ending November 30. That exceeds what the 214,000 analysts had predicted.
The overall number of Americans receiving unemployment benefits, known as continuing claims, decreased by 25,000 to 1.87 million during the week of November 23. That is lower than the three-year highs it reached in the previous weeks.
Weekly claims’ four-week average, which reduces some of the weekly volatility, increased by 750 to 218,250.
Weekly jobless benefit applications are thought to be a good indicator of layoffs in the US.
The Associated Press, 2024. All rights reserved. All rights reserved. It is prohibited to publish, broadcast, rewrite, or redistribute this content without authorization.
Note: Every piece of content is rigorously reviewed by our team of experienced writers and editors to ensure its accuracy. Our writers use credible sources and adhere to strict fact-checking protocols to verify all claims and data before publication. If an error is identified, we promptly correct it and strive for transparency in all updates, feel free to reach out to us via email. We appreciate your trust and support!