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