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US jobless claims tick up to 200,000 but remain low by historic standards
Claims rose above economists’ forecasts, but the four-week average stayed unchanged and continuing claims fell, reinforcing signs of a resilient labor market.
- On Thursday, the US Department of Labor reported initial jobless claims increased by 9,000 to a seasonally adjusted 200,000 for the week ending November 7, exceeding the 195,000 economists had forecast.
- Despite the recent uptick, jobless claims remained at levels consistent with a resilient labor market, with applications holding at or below 200,000 for nine straight weeks across the United States.
- Continuing claims, a proxy for hiring, fell by 20,000 to a seasonally adjusted 1.697 million for the week ended October 31, tracking individuals remaining on benefits beyond their initial week.
- Citigroup economist Veronica Clark suggested a smaller workforce could reduce unemployment filings, while benefit exhaustion limited to a "maximum of 26 weeks" in most states may also restrain continuing claims.
- Projections indicate the unemployment rate could move closer to 4.0% by early 2027, assuming continuing claims remain at levels supporting a stable labor market despite potential workforce contractions.
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Associated Press News+14 Reposted by 14 other sources
US jobless claims tick up to 200,000 but remain low by historic standards
More Americans applied for unemployed benefits last week, but jobless claims remain at historically low levels, layoffs are rare and most workers enjoy unusual job security.
·New York, United States
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Total News Sources36
Leaning Left5Leaning Right5Center13Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 22%
C 56%
R 22%
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