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Unemployment insurance weekly claims
In the week ending November 5, the advance figure for seasonally adjusted initial claims was 225,000, an increase of 7,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 217,000 to 218,000. The 4-week moving average was 218,750, a decrease of 250 from the previous week's revised average. The previous week's average was revised up by 250 from 218,750 to 219,000. The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending October 29, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured ... (full story)
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Jobless claim tick up as economy faces recession risk
The number of new applications for unemployment benefits rose by 7,000 to 225,000 last week, a discouraging sign for the economy, the Labor Department reported Thursday. Rising jobless claims, a proxy for layoffs, are a sign the unusually strong labor market might be starting to react to the Federal Reserve’s efforts to tighten monetary policy to slow economywide spending and bring down inflation. For a lengthy stretch between early August and the middle of September, jobless claims defied expectations and remained low. Since the start of October, though, they have been above 210,000. The Fed has been aggressively ... (full story)