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US First-Time Unemployment Claims Slightly Decline
(MENAFN) The tally of Americans submitting first-time unemployment claims dropped by 16,000 last week, reaching 199,000, according to data from the US Labor Department released Wednesday.
Analysts had anticipated a figure of 219,000 for the same period, indicating the decline came in below market expectations.
Meanwhile, the four-week moving average of claims rose slightly to 218,750, marking an increase of 1,750 compared with the previous week.
The number of individuals receiving ongoing unemployment benefits also decreased, falling by 47,000 to 1.866 million.
However, the overall unemployment rate climbed to 4.6% in November, the highest level in roughly four years, up from 4.4% in September and exceeding predictions.
Analysts had anticipated a figure of 219,000 for the same period, indicating the decline came in below market expectations.
Meanwhile, the four-week moving average of claims rose slightly to 218,750, marking an increase of 1,750 compared with the previous week.
The number of individuals receiving ongoing unemployment benefits also decreased, falling by 47,000 to 1.866 million.
However, the overall unemployment rate climbed to 4.6% in November, the highest level in roughly four years, up from 4.4% in September and exceeding predictions.
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