WASHINGTON – The number of workers filing first-time unemployment claims rose 6.3 percent last week, according to the advance report released today by the U.S. Department of Labor.
The week ended Nov. 10 saw a seasonally adjusted 339,000 initial jobless claims nationwide, an increase of 20,000 from the previous week’s revised 319,000. The four-week moving average was unchanged at 330,000 claims per week.
Analysts had expected new claims to rise by 3,000 from the 317,000 initially reported for the week ended Nov. 3, based on the median forecast from a Bloomberg News survey of 39 analysts. (Their predictions for last week ranged from 280,000 new claims to 340,000.)
“The labor market is softening,” Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. in New York, told Bloomberg News. New unemployment claims are “going to drift a little bit higher.” Nearly 2,000 of last week’s new claims were associated with the California fires, a Labor Department spokesman said.
New unemployment claims rose 7.6 percent compared with a year earlier, when the initial claims level was 315,000.
Additional information, including the Unemployment Insurance Weekly Claims Report, is available from the U.S. Department of Labor’s Employment and Training Administration at www.dol.gov.
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