Posted 11/30/2023, 1:37:00 PM
Jobless Claims Rise to Highest Level in 2 Years, Continuing Claims Also Up
- Jobless claims rose 7,000 to 218,000 in the week ending Nov. 25, reaching the highest level in 2 years
- Economists had estimated claims would rise to 220,000
- Number of people already collecting benefits rose 86,000 to 1.927 million, highest since Nov 2021
- Jobless claims volatile around holidays, economists cautious about reading too much into data
- Rise in continuing claims suggests harder for laid-off workers to find jobs, fitting with softer labor market description in Fed Beige Book