Nov. 16 (UPI) — The number of workers filing for unemployment benefits for the first time during the past week jumped 13,000 to a seasonally adjusted 231,000, its highest total since August, according to new statistics released by the Labor Department on Thursday.
Initial weekly unemployment filing had been running at some of its lowest levels in 2023, with claims of 220,000 and less for eight straight weeks — until Thursday’s release. The last time the weekly filings were this high was for the week ending Aug. 19, with 232,000 filing for unemployment insurance for the first time then.
The filings are a snapshot that experts watch to find clues about the stability of the U.S. workforce and economy.
The four-week moving average for first-time unemployment benefit claims was 220,250, an increase of 7,750 to 220,250.
The total number of workers filing for unemployment insurance for the week ending Nov. 4 was seasonally adjusted to 1.865 million, an increase of 32,000 from the previous week, which was revised down 1,000, according to the Labor Department.
The four-week moving average for total unemployment insurance filings is 1,823,250, an increase of 34,500 from the previous week’s average.
