Unemployment benefits claims in the U.S. rose by 28,000 in the week ending November 27, the Labor Department said.
Unemployment benefits claim increased by 28,000 to 222,000 from the previous week’s 194,000, the Labor Department said Thursday.
According to the Labor Department, the 4-week moving average was 238,750, a decrease of 12,250 from the previous week’s revised average.
This is the lowest level for this average since March 14, 2020, when it was 225,500, the Department said. The previous week’s average was revised down by 1,250 from 252,250 to 251,000, it added.
According to the Labor Department, the advance seasonally adjusted insured unemployment rate was 1.4 percent for the week ending November 20, a decrease of 0.1 percentage point from the previous week’s unrevised rate.
The advance number for seasonally adjusted insured unemployment during the week ending November 20 was 1,956,000, a decrease of 107,000 from the previous week’s revised level. This is the lowest level for insured unemployment since March 14, 2020, when it was 1,770,000, the Department said.
The previous week’s level was revised up 14,000 from 2,049,000 to 2,063,000. The 4-week moving average was 2,084,250, a decrease of 36,250 from the previous week’s revised average. This is the lowest level for this average since March 21, 2020, when it was 2,071,750. The previous week’s average was revised up by 3,500 from 2,117,000 to 2,120,500.
“New unemployment claims are now at a level not seen since March 7, 2020 and last week’s claims were revised down to their lowest level since 1969,” President Biden said in a White House statement.
“In addition, the four-week average of unemployment claims fell to their lowest level since the pandemic began – just 225,500. Initial unemployment claims are now down more than 70 percent since I became President, and total claims filed each week are now down by around 16 million over that same period, “ he added.
Learn More- Click here
A global media for the latest news, entertainment, music fashion, and more.
