Nov. 2 (UPI) — First-time weekly unemployment claims jumped to their highest total since earl September last week, according to new statistics released by the Labor Department on Thursday.
Workers filing for unemployment benefits for the week ending Oct. 28 reached a seasonally adjusted 217,000 the biggest number of initial unemployment insurance claims since 221,000 were filed for the week ending Sept. 9.
The filings are a snapshot that experts watch for to find clues about the stability of the U.S. workforce and economy.
The number of first-time claims, though, is still significantly down from the 2023 high of 265,000 filed during the week ending June 17.
The four-week moving average for initial unemployment benefit filings increased 2,000 to 210,000. Last week’s total was revised up by 500 to 208,000.
The total number of people filing for unemployment benefits for the week ending Oct. 12 was 1.818 million, an increase of 35,000 from the previous week. The previous week’s level was revised down by 7,000 by the Labor Department.
The four-week moving average for overall unemployment was 1,758,250, an increase of 36,500 from the week before. The previous week’s total was revised down by 1,750 from 1,723,500 to 1,721,750, the Labor Department said.
