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Initial claims for state unemployment benefits increased 3,000
to a seasonally adjusted 224,000 for the week ended Nov. 17, the
highest level since the end of June, the Labor Department said
on Wednesday.
Data for the prior week was revised to show 5,000 more
applications received than previously reported.
Economists polled by Reuters had forecast claims slipping to
215,000 in the latest week.
The Labor Department said no states were estimated last week. It
said claims for North Carolina and Florida continued to be
affected by Hurricanes Florence and Michael, respectively.
The four-week moving average of initial claims, considered a
better measure of labor market trends as it irons out
week-to-week volatility, rose 2,000 to 218,500 last week.
The claims data covered the survey period for the nonfarm
payrolls component of November's employment report.
The four-week average of claims rose by 6,750 between the
October and November survey weeks, suggesting another month of
strong job growth.
Payrolls increased by 250,000 jobs in October, with the
unemployment rate holding near a 49-year low of 3.7 percent. The
labor market is viewed as being near or at full employment.
Thursday's claims report also showed the number of people
receiving benefits after an initial week of aid fell 2,000 to
1.67 million for the week ended Nov. 10.
The four-week moving average of the so-called continuing claims
increased 7,500 to 1.65 million.
(Reporting by Lucia Mutikani Editing by Paul Simao) ((Lucia.Mutikani@thomsonreuters.com;
1 202 898 8315; Reuters Messaging: lucia.mutikani.
thomsonreuters.com@reuters.net)
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