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- U.S. weekly jobless claims total 885,000
U.S. weekly jobless claims total 885,000
The data from
the Labor Department revealed on Thursday the number of applications for
unemployment unexpectedly rose last week.
According to
the report, the initial claims for unemployment benefits increased by 23,000 to
885,000 for the week ended December 12. This was the highest total since the
week ended September 6.
Economists had
expected 800,000 new claims last week.
Claims for the
prior week were revised upwardly to 862,000 from the initial estimate of 853,000.
Meanwhile, the
four-week moving average of claims grew to 812,500 from an upwardly revised 778,250
in the previous week.
Continuing
claims dropped to 5,508,000 million from an upwardly revised 5,781,000 in the
previous week.
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