Weekly Jobless Claims Climb Higher in the Week Ending 5th December 2020

The U.S. Department of Labor is reporting that an additional 853,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday December 5^th. An increase of 137,000 from the previous week’s revised level. The 4-week moving average was 766,000, an increase of 35,500 from the previous week’s revised average. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending 28^th November was 5,757,000, an increase of 230,000 from the previous week’s revised level. The 4-week moving average was 5,935,7500, a decrease of 260,250 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 3.9% for the week ending 28^th November a decline of -0.1 from the previous week’s revised averages.