Jobs

US Jobless Claims Hit Three-Month High as Labor Market Cools

Applications rose to 240,000; economists expected 225,000
Continuing claims also increased amid layoffs in tech sector

An employee prepares a takeout order at a restaurant in Chicago.Photographer: Christopher Dilts/Bloomberg

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By Augusta Saraiva

November 23, 2022 at 1:35 PM UTC

Updated on

November 23, 2022 at 2:02 PM UTC

This article is for subscribers only.

Applications for US unemployment benefits rose last week to a three-month high amid a wave of layoffs at technology companies, a sign of cooling in a tight labor market.

Initial unemployment claims increased by 17,000 to 240,000 in the week ended Nov. 19, Labor Department data showed Wednesday. The median estimate in a Bloomberg survey of economists called for 225,000.