Jobs
US Continuing Jobless Claims Rise for Seventh Straight Week
- Recurring applications now stand at highest since mid-April
- Initial claims ticked lower, though four-week average rose
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Recurring applications for US unemployment benefits rose for a seventh straight week, adding to evidence that the labor market is cooling.
Continuing jobless claims, a proxy for the number of people receiving unemployment benefits, increased to 1.83 million in the week ended Oct. 28, the highest since mid-April, according to Labor Department data out Thursday.