|Continuing jobless claims reach two-year high
Initial jobless claims rose 7,000 to 218,000 in the seven days to November 25th, the Labor Department said Thursday, just below the 11,000 increase expected among economists polled by the Wall Street Journal. The four-week moving average was 220,000, while continuing claims, reported with a one-week lag, came in at 1.93m, up 86,000 from the prior week, and representing their highest level since November 2021. On an unadjusted basis, continuing claims dropped sharply, falling nearly 98,0000 and suggesting seasonal factors may be impacting the data. Unadjusted initial claims also fell, led by declines in California, Texas and Oregon.