US Initial Jobless Claims Increased Unexpectedly to 224k

Forex News

US unemployment claims rose unexpectedly last week, hitting their highest level since the end of June. The US Labor Department reported, that the number of individuals applying for initial jobless benefits increased by 3.000 to a seasonally adjusted 224.000 in the week ended November 17, from the previous week’s upwardly revised total of 221.000.

Meanwhile, continuing jobless claims, which reflect people who recently lost their jobs and are already receiving benefits, declined to 1.668 million in the week ended November 10, from 1.670 million in the preceding week, compared to expectations for a drop to 1.635 million.