US Jobless Claims Rise, or Maybe They Retreat

[mahatmakanejeeves]

Last edited Thu Dec 1, 2022, 10:15 AM - Edit history (3)

To clear things up, it's the continuing claims that have risen to their highest level since February. The number of initial claims made in the affected week has dropped from the week before.

https://news.google.com/search?for=initial+jobless+claims

Continuing US Jobless Claims Rise to Highest Since February
Bloomberg
13 minutes ago

U.S. weekly jobless claims retreat in latest week
MarketWatch
19 minutes ago

Economics
Jobs

Continuing US Jobless Claims Rise to Highest Since February

• Recurring applications jump by most in a year to 1.6 million
• Initial claims decreased in data leading up to jobs report

By Augusta Saraiva
December 1, 2022 at 8:33 AM EST Updated on December 1, 2022 at 8:56 AM EST

Recurring applications for US unemployment benefits rose to the highest since February, suggesting that Americans who are losing their job are having more trouble finding a new one in a labor market that’s gradually cooling.

Continuing claims, which include people who have already received unemployment benefits for a week or more, rose by 57,000 to 1.6 million in the week ended Nov. 19, the biggest jump in a year.

{snip}

Economic Report

U.S. weekly jobless claims retreat in latest week

Published: Dec. 1, 2022 at 8:41 a.m. ET
By Greg Robb

Claims drop by 16,000 after jump of 18,000 in prior week

The numbers: Initial jobless claims fell 16,000 to 225,000 in the week ended November 26, the Labor Department said Thursday.

Economists polled by The Wall Street Journal had estimated new claims would fall 5,000.

The decline reverses a revised gain of 18,000 to 241,000 in the prior week.

Key details: The number of people already collecting jobless benefits rose by 57,000 to 1.61 million. That’s the highest level since February.

On an unadjusted basis, claims fell 50,512 to 198.557.

Big picture: Economists emphasize that it is hard to read the claims data during holiday periods.

In general, claims are expected to start to rise in the wake of the sharp uptick in layoff announcements in recent weeks.

{snip}

[mahatmakanejeeves]

1. From the source:

https://www.dol.gov/sites/dolgov/files/OPA/newsreleases/ui-claims/20222253.pdf

https://www.dol.gov/ui/data.pdf

News Release

Connect with DOL at
https://blog.dol.gov

TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL
8:30 A.M. (Eastern) Wednesday, December 1, 2022

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS

SEASONALLY ADJUSTED DATA

In the week ending November 26, the advance figure for seasonally adjusted initial claims was 225,000, a decrease of 16,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 240,000 to 241,000. The 4-week moving average was 228,750, an increase of 1,750 from the previous week's revised average. The previous week's average was revised up by 250 from 226,750 to 227,000.

The advance seasonally adjusted insured unemployment rate was 1.1 percent for the week ending November 19, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending November 19 was 1,608,000, an increase of 57,000 from the previous week's unrevised level of 1,551,000. The 4-week moving average was 1,538,750, an increase of 30,250 from the previous week's revised average. The previous week's average was revised down by 1,250 from 1,509,750 to 1,508,500.

{snip}

UNADJUSTED DATA

{snip}

The total number of continued weeks claimed for benefits in all programs for the week ending November 12 was 1,367,913, an increase of 115,477 from the previous week. There were 2,298,126 weekly claims filed for benefits in all programs in the comparable week in 2021.

{snip the rest of the ten-page news release, until the end}

Weekly Claims Archives
Weekly Claims Data

U.S. Department of Labor news materials are accessible at http://www.dol.gov. The Department's Reasonable Accommodation Resource Center converts Departmental information and documents into alternative formats, which include Braille and large print. For alternative format requests, please contact the Department at [phone] (voice) or [phone] (federal relay).

U.S. Department of Labor
Employment and Training Administration
Washington, D.C. 20210
Release Number: USDL 22-2253-NAT

Program Contacts:
Kevin Stapleton: [phone] {He's back to using his work number.}
Media Contact: [phone]