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Initial claims for state unemployment benefits rose 10,000 to a
seasonally adjusted 234,000 for the week ended Nov. 24, the
highest level since the mid-May, the Labor Department said on
Thursday. Claims have now risen for three straight weeks.
Economists polled by Reuters had forecast claims falling to
220,000 in the latest week.
The claims data included Thanksgiving Day on Thursday. Claims
tend to be volatile around holidays. The Labor Department said
no states were estimated last week.
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 4,750 to 223,250 last week.
The claims report also showed the number of people receiving
benefits after an initial week of aid increased 50,000 to 1.71
million for the week ended Nov. 17. The four-week moving average
of the so-called continuing claims rose 19,750 to 1.68 million.
The continuing claims data covered the week during which
households were surveyed for November's unemployment rate. The
four-week average of claims increased 20,750 between the October
and November survey weeks, suggesting little change in the
unemployment rate.
The jobless rate is at a near 49-year low of 3.7 percent. The
labor market is viewed as being near or at full employment.
(Reporting By Lucia Mutikani; Editing by Andrea Ricci) ((Lucia.Mutikani@thomsonreuters.com;
1 202 898 8315; Reuters Messaging: lucia.mutikani.thomsonreuters.
com@reuters.net)
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