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.

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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.

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