US Unemployment Claims Rose to 4 Month High

The number of Americans filing applications for jobless benefits rose to more than a four-month high last week, but the underlying trend remained consistent with a tightening labor market.

Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 224,000 for the week ended Nov. 17, the highest level since the end of June, the Labor Department said on Wednesday.

Data for the prior week was revised to show 5,000 more applications received than previously reported.



Economists polled by Reuters had forecast claims slipping to 215,000 in the latest week.

The Labor Department said no states were estimated last week. It said claims for North Carolina and Florida continued to be affected by Hurricanes Florence and Michael, respectively.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 2,000 to 218,500 last week.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza