US Continued Jobless Claims Jump to Highest Since Late 2021
- A proxy for those receiving benefits rose to 1.93 million
- Initial claims increased in week that included Thanksgiving
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Recurring applications for US unemployment benefits jumped to the highest in about two years, adding to evidence of a cooling labor market.
Continuing claims, which are a proxy for the number of people receiving unemployment benefits, rose to 1.93 million in the week ended Nov. 18, higher than all estimates in a Bloomberg survey of economists. This figure has climbed since September, suggesting out-of-work Americans are finding it more difficult to secure new employment.