US jobless claims hit 6-week high

05/12/2024 Argaam


Initial claims for US unemployment benefits rose unexpectedly last week, reaching the highest level in six weeks.

 

The claims increased by 9,000 to 224,000, during the week ending Nov. 30, the Labor Department data showed.

 

This surpassed expectations of stability at 215,000 claims, as the previous week's data was revised upward by 2,000 to that level.

 

The four-week average of claims, which evens out some of that weekly volatility, rose by 750 to 228,000, compared with the previous week's unadjusted average of 217,500.

 

These figures precede the November nonfarm payroll report, which is expected to show an addition of 202,000 jobs.

 

US Weekly Jobless Claims

Item

Last Year

Last Week

Current   Week

Change

Initial Claims ('000)

216.0

215.0

224.0

9+

4-Week Average ('000)

217.5

217.5

218.25

0.750+

No. of Beneficiaries (mln)

1.818

1.896

1.871

(0.025)

 

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