US Weekly Jobless Claims Trek Higher in the Week Ending November 11th

The US Department of Labor reported on Thursday (11-16-23) that the advance figure for seasonally adjusted initial unemployment claims was 231,000 during the week ending Saturday, November 11th. This is an increase of 13,000 from the previous week’s revised level of 218,000 (originally reported as 217,000). The 4-week moving average was 220,250—an increase of 7,750 from the previous week’s revised average of 212,500 (originally reported as 212,250).

The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending November 4th was 1,865,000. This is an increase of 32,000 from the previous week’s revised level of 1,833,000 (originally reported as 1,834,000) and the highest level since November 27th, 2021 (1,964,00). The 4-week moving average was 1,823,250—an increase of 34,500 from the previous week’s revised level of 1,788,750 (originally reported as 1,789,000).

The advance seasonally adjusted insured unemployment rate was 1.3% for the week ending November 4th, an increase of 0.1 percentage point from the previous week’s unrevised rate.