US Jobless Claims Rise 9,000 to 200,000 as Continuing Claims Fall to 1.697 Million
Updated
Updated · Reuters · Nov 12
US Jobless Claims Rise 9,000 to 200,000 as Continuing Claims Fall to 1.697 Million
3 articles · Updated · Reuters · Nov 12
Summary
200,000 Americans filed new unemployment claims in the week ended Nov. 7, up 9,000 from the prior week and above economists’ 195,000 forecast.
1.697 million people remained on benefits after an initial week, down 20,000, reinforcing a view that layoffs are still scarce and the labor market remains broadly stable.
October payrolls surged and the unemployment rate fell to 4.1% from 4.2%, though the median jobless spell lengthened to 11.9 weeks, suggesting hiring remains slow for those out of work.
Fed officials are still seen focusing on inflation after hotter-than-expected October consumer prices, with markets nearly pricing in a 25-basis-point rate hike in December and another in January.