Continuing US Jobless Claims Rise to Highest Since February

[mahatmakanejeeves]

Economics
Jobs

Continuing US Jobless Claims Rise to Highest Since February
• Three-week jump in continuing claims is most since May 2020
• California, New York posted biggest rise in initial claims

By Augusta Saraiva
December 8, 2022, 1:33 PM UTC Updated on December 8, 2022, 1:58 PM UTC

@gutavsaraiva

Recurring applications for US unemployment benefits rose to the highest since early February, suggesting that Americans who are losing their job are having more trouble finding a new one as the labor market shows tentative signs of cooling.

Continuing claims, which include people who have already received unemployment benefits for a week or more, climbed by 62,000 to 1.7 million in the week ended Nov. 26, Labor Department data showed Thursday.

{snip}

[mahatmakanejeeves]

1. From the source:

https://www.dol.gov/sites/dolgov/files/OPA/newsreleases/ui-claims/20222290.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) Thursday, December 8, 2022

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS

SEASONALLY ADJUSTED DATA

In the week ending December 3, the advance figure for seasonally adjusted initial claims was 230,000, an increase of 4,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 225,000 to 226,000. The 4-week moving average was 230,000, an increase of 1,000 from the previous week's revised average. The previous week's average was revised up by 250 from 228,750 to 229,000.

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending November 26, an increase of 0.1 percentage point from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending November 26 was 1,671,000, an increase of 62,000 from the previous week's revised level. The previous week's level was revised up 1,000 from 1,608,000 to 1,609,000. The 4-week moving average was 1,582,250, an increase of 43,250 from the previous week's revised average. The previous week's average was revised up by 250 from 1,538,750 to 1,539,000.

UNADJUSTED DATA

{snip}

The total number of continued weeks claimed for benefits in all programs for the week ending November 19 was 1,284,024, a decrease of 83,896 from the previous week. There were 1,947,630 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 22-2290-NAT

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

[doc03]

2. This is good news I guess, Futures are up