Investing.com - The number of people who filed for unemployment assistance in the U.S. rose unexpectedly last week, hitting their highest level since the end of June.
The U.S. Department of Labor said that the number of individuals applying for initial jobless benefits in the seven days ended November 17 increased by 3,000 to a seasonally adjusted 224,000 from the previous week’s upwardly revised total of 221,000.
The four-week moving average was 218,500, an rise of 2,000 from the previous week. The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.
Continuing jobless claims in the week ended November 10 declined to 1.668 million from 1.670 million in the preceding week, compared to expectations for a drop to 1.635 million. These claims reflect people who recently lost their jobs and are already receiving benefits.