US Jobless Claims Rise to 221,000; Continuing Claims Hit Highest Since 2021

Nov 7, 2024, 01:32 PM

US initial jobless claims rose by 3,000 to 221,000 for the week ending November 2, in line with expectations of 222,000, according to data released by the Labor Department. The prior week's claims were revised up to 218,000 from 216,000. Continuing jobless claims increased to 1.892 million for the week ending October 26, higher than the expected 1.873 million and reaching the highest level since November 2021, signaling that it's becoming more difficult for the unemployed to find jobs. The four-week moving average of initial claims fell to 227,250 from the previous week's 236,500.