Initial Unemployment Claims Tick Back Up to 742,000, Point to Continued Economic Struggles
WASHINGTON, D.C. — Initial weekly jobless claims ticked back up during the week ending Nov. 14, the U.S. Department of Labor reported Thursday. Total claims totaled 742,000, up from 709,000 the prior week — the lowest since the beginning of the pandemic. Economists surveyed by Dow Jones expected this week’s total to be 710,000.
The initial claims have been historically high throughout the onset of the COVID-19 pandemic that began in the United States in mid-March. Claims hovered around 200,000 per week in January and February. The four-week moving average for the week ending Nov. 14 was 742,000, a decrease of 13,750 from the previous week.
Continuing claims, for which data is a week behind, totaled nearly 6.4 million for the week ending Nov. 7, a decrease of 429,000 from the previous week.