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New
state unemployment benefit claims rose by 12,000 last week to
218,000, according to the Labor Department. A Reuters poll
showed economists expected an increase to 210,000 initial claims
for the week ended Dec. 23.
The rolls of those receiving benefits after one week of aid rose
14,000 from the week prior, reaching 1.875 million. Continued
unemployment claims, a measure for hiring, have increased since
mid-September, indicating those already out of work may be
having difficulties getting a job.
In November's economy, 199,000 new jobs emerged, up from 150,000
in October according to the Labor Department's non-farm payrolls
report. The unemployment rate also fell moderately from the
month prior, to 3.7% from 3.9%.
Amid slower job growth and milder inflation, the Federal Reserve
has left its benchmark interest rate unchanged for three
consecutive policy meetings, and economists expect its hike
campaign to be at an end.
The Fed has raised its policy rate by 525 basis points, to the
current 5.25%-5.50% range, since March 2022 in a bid to curb
inflation.
(Reporting by Amina Niasse; Editing by Chizu Nomiyama)
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