U.S. states saw another 742,000 Americans file for first-time unemployment benefits last week, as new jobless claims unexpectedly rose as COVID-19 cases in the U.S. keep marching higher.
The Department of Labor released its weekly report on new jobless claims Thursday, and these are the main results compared to consensus estimates, compiled by Bloomberg:
Initial jobless claims, week ended Nov. 14: 742,000 vs. 700,000 expected, and a revised 711,000 during prior week
Continuing claims, week ended Nov. 7: 6.4 million vs. 6.4 million expected and a revised 6.8 million during prior week
New unemployment claims held below the 1 million mark for a twelfth straight week. New claims also rose for the first time in five weeks, however, though they have moved steadily lower from a pandemic-era peak of nearly 7 million.
Click here to read the full report from Emily McCormick at Yahoo Finance.