U.S. Jobless Claims Rise; Continuing Claims Fall Again
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WASHINGTON, The Labor Department reported Thursday that initial U.S. unemployment benefit applications for the week ending Dec. 6 rose by 44,000 to 236,000, exceeding analysts' 213,000 forecast. Continuing claims for the prior week ending Nov. 29 dropped by 99,000 to 1.84 million, the lowest since mid-April. Reporters noted applications as a proxy for layoffs while citing sluggish hiring. The Federal Reserve cut its benchmark rate by a quarter-point this week, citing labor-market concerns and potential downward payroll revisions. Based on 6 articles reviewed and supporting research and primary sources.
More context
Timeline
- 1. Mid-April: continuing claims reached a prior low reference point earlier in the year.
- 2. Since April: Federal Reserve noted payroll growth averaged roughly 40,000 monthly (per Fed remarks).
- 3. Week ending Nov. 29: prior-week data were affected by the Thanksgiving holiday.
- 4. Week ending Dec. 6: initial jobless claims rose by 44,000 to 236,000, per Labor Department.
- 5. This week: Federal Reserve reduced its benchmark rate by a quarter-point, citing labor-market concerns.
Sources
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