US jobless claims hit highest levels since 2021
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The news: Figures from the US Department of Labor show that continuing jobless claims, a proxy for the number of people receiving unemployment benefits in the US economy, hit 1.93 million people in the week ended 18 November.
The numbers: The figure is an increase of 86,000 from the previous week's revised level. This is the highest level for insured unemployment since 27 November, 2021, when it reached 1,964,000.
The context: While unemployment in the US remains historically low, the new figures may suggest that resilience could be starting to waver. Continuing jobless claims have been rising since September, while initial claims hit 218,000 during the Thanksgiving week. The holiday period can be a particularly volatile period for jobs data.
The source: US Department of Labor
