U.S. Jobless Claims Rise to 221,000

For the week ending November 2, seasonally adjusted initial claims for unemployment benefits rose by 3,000, reaching a total of 221,000.

For the week ending November 2, seasonally adjusted initial claims for unemployment benefits rose by 3,000, reaching a total of 221,000. This marked an increase from the previous week's revised figure of 218,000, which was upwardly adjusted by 2,000 from the originally reported 216,000. The 4-week moving average of initial claims decreased by 9,750, settling at 227,250. This average was revised up by 500 from the prior week’s figure of 236,500, which was also adjusted to 237,000.

As of October 26, the seasonally adjusted insured unemployment rate remained unchanged at 1.2 percent. The advance number of insured unemployed individuals for the week ending October 26 rose by 39,000, reaching 1,892,000. This was the highest level of insured unemployment since November 13, 2021, when it stood at 1,974,000. The previous week’s insured unemployment figure was revised down by 9,000, from 1,862,000 to 1,853,000. The 4-week moving average of insured unemployment increased by 8,500 to 1,875,500, the highest level since November 27, 2021, when it was 1,928,000. The previous week’s average was revised down by 2,250, from 1,869,250 to 1,867,000.

Source:U.S. Department of Labor

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