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- U.S. weekly jobless claims total 742,000
U.S. weekly jobless claims total 742,000
The data from
the Labor Department revealed on Thursday the number of applications for
unemployment unexpectedly rose last week, as the U.S. labor market is
struggling to recover from its biggest shock in history, caused by the COVID-19
pandemic.
According to
the report, the initial claims for unemployment benefits totaled 742,000 for
the week ended November 14. This marked the first rise in weekly initial claims
since the week ended October 11.
Economists had
expected 707,000 new claims last week.
Claims for the
prior week were revised upwardly to 711,000 from the initial estimate of 709,000.
Meanwhile, the
four-week moving average of claims decreased to 742,000 from an upwardly
revised 755,750 in the previous week.
Continuing claims declined to 6,372,000 million from an upwardly revised 6,801,000 in the previous week.
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