U.S. jobless claims tick higher in latest week

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Economic Report

U.S. jobless claims tick higher in latest week

Published: Nov. 10, 2022 at 8:42 a.m. ET
By Greg Robb

Claims up 5,000 to 225,000, highest in four weeks

The numbers: Initial jobless claims rose 5,000 to 225,000 in the week ended November 5, the U.S. Labor Department said Thursday.

Economists polled by The Wall Street Journal had estimated new claims would rise 2,000 from last week’s initial estimate of 219,000.

Key details: The number of people already collecting jobless benefits rose by 6,000 to 1.49 million.

Big picture: Labor market conditions remain tight – at least for now. The government reported last week that the economy added 261,000 jobs in October.

Still, economists think the pace of the Federal Reserve’s recent rate hikes will eventually slow the economy and cause firms to layoff workers.

In recent days, Facebook parent Meta META, +4.08% and other tech giants have announced layoffs.

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1. From the source:

https://www.dol.gov/sites/dolgov/files/OPA/newsreleases/ui-claims/20222167.pdf

https://www.dol.gov/ui/data.pdf

News Release

Connect with DOL at
https://blog.dol.gov

TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL
8:30 A.M. (Eastern) Thursday, November 10, 2022

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS

SEASONALLY ADJUSTED DATA

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 unemployment during the week ending October 29 was 1,493,000, an increase of 6,000 from the previous week's revised level. The previous week's level was revised up 2,000 from 1,485,000 to 1,487,000. The 4-week moving average was 1,450,250, an increase of 32,250 from the previous week's revised average. The previous week's average was revised up by 500 from 1,417,500 to 1,418,000.

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UNADJUSTED DATA

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The total number of continued weeks claimed for benefits in all programs for the week ending October 22 was 1,263,094, an increase of 12,522 from the previous week. There were 2,565,881 weekly claims filed for benefits in all programs in the comparable week in 2021.

{snip the rest of the ten-page news release, until the end}

Weekly Claims Archives
Weekly Claims Data

U.S. Department of Labor news materials are accessible at http://www.dol.gov. The Department's Reasonable Accommodation Resource Center converts Departmental information and documents into alternative formats, which include Braille and large print. For alternative format requests, please contact the Department at [phone] (voice) or [phone] (federal relay).

U.S. Department of Labor
Employment and Training Administration
Washington, D.C. 20210
Release Number: USDL 22-2167-NAT

Program Contacts:
Kevin Stapleton: [phone]
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