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U.S. Initial Jobless Claims Rise for First Time in Five Weeks

  • Labor-market recovery may be slowing amid resurgent virus
  • Increase reflects surge in Louisiana’s reported total
Bloomberg business news
WATCH: Weekly jobless claims came in at 742,000, up 31,000 from the previous week. Source: Bloomberg)
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Applications for U.S. state unemployment benefits rose for the first time in five weeks and remained well above pre-virus levels, suggesting the labor-market recovery is slowing amid a surging pandemic and fresh business restrictions.

Initial jobless claims in regular state programs totaled 742,000 in the week ended Nov. 14, up 31,000 from the prior week and compared with expectations for a decline, Labor Department data showed Thursday. On an unadjusted basis, the figure increased by about 18,000. The week included Veterans Day, and claims data tend to be more volatile around holidays.