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US Jobless Claims Decline, Unemployment Rate Climbs
(MENAFN) Fresh data from the US Labor Department on Thursday revealed that initial unemployment claims dropped by 13,000 last week, settling at 224,000. This figure aligned with market expectations and marked a decrease from the prior week’s revised total of 237,000.
The four-week moving average stood at 217,500, reflecting a slight increase of 500 compared to the earlier revised average of 217,000.
Meanwhile, continuing unemployment benefit claims rose to 1.897 million, up from 1.83 million the week before, signaling ongoing pressure in the labor market.
In terms of employment, the US economy added 64,000 positions in November, following a significant loss of 105,000 jobs in October.
The unemployment rate climbed to 4.6% in November, the highest level in nearly four years, rising from 4.4% in September and surpassing forecasts.
The four-week moving average stood at 217,500, reflecting a slight increase of 500 compared to the earlier revised average of 217,000.
Meanwhile, continuing unemployment benefit claims rose to 1.897 million, up from 1.83 million the week before, signaling ongoing pressure in the labor market.
In terms of employment, the US economy added 64,000 positions in November, following a significant loss of 105,000 jobs in October.
The unemployment rate climbed to 4.6% in November, the highest level in nearly four years, rising from 4.4% in September and surpassing forecasts.
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