Initial unemployment insurance claims increased last week, but remained at a level consistent with what the employment market looked like before the Covid-19 pandemic destroyed US employment, the Ministry of Labor reported Thursday.
The first submissions for the week ending November 27 totaled 222,000, less than the expected 240,000 Wall Street. This is above 194,000 last week, but the total is the lowest since 1969 and has been revised even lower than the originally reported 199,000.
The total is the result of seasonal adjustment, but the number of unadjusted is actually as low as 211,896.
The report is published in the midst of signs that the labor market is becoming tighter, workers are leaving for new jobs at record highs, and employment continues at a vigorous pace. ..
In addition to brightening the outlook for initial billing, ongoing billing fell by another 107,000, falling below 2 million for the first time since the early days of the pandemic. The last recurring claims filed one week behind the number of headlines were March 14, 2020, less than the current 1.96 million.
According to unadjusted data, Virginia and Texas combined reduced the number of claims filed per week by more than 15,000.
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US Weekly Unemployed Billing
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