The number of Americans applying for unemployment benefits dropped last week, down by 2,000 to 213,000, according to the Labor Department. However, continuing claims rose to 1.91 million, the highest level since November 2021, indicating a slowdown in job market demand.
The number of Americans applying for unemployment benefits fell last week, remaining near seven-month lows.
However, continuing claims, the total number of Americans collecting jobless benefits, rose by 9,000 to 1.91 million for the week of Nov. 16. That's the highest number since Nov. 13, 2021. The four-week average of weekly claims, which quiets some of the weekly volatility, was 1.9 million, an increase of 13,500 from the previous week’s revised average.Also on Wednesday, The Commerce Department reported the American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, leaving unchanged its initial estimate of third-quarter growth.
UNEMPLOYMENT BENEFITS LABOR DEPARTMENT JOB MARKET ECONOMIC INDICATORS CONTINUING CLAIMS
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