US Applications for Unemployment Benefits Hold Steady, but Continuing Claims Rise to 3-Year High

[BumRushDaShow]

Source: US News and World Report/AP

Dec. 26, 2024, at 8:39 a.m.


WASHINGTON (AP) — The number of Americans applying for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years. Jobless claim applications ticked down by 1,000 to 219,000 for the week of Dec. 21, the Labor Department reported Thursday. That’s fewer than the 223,000 analysts forecast.

Continuing claims, the total number of Americans collecting jobless benefits, climbed by 46,000 to 1.91 million for the week of Dec. 14. That's more than analysts projected and the most since the week of Nov. 13, 2021 when the labor market was still recovering from the COVID-19 jobs wipeout in the spring of 2020.

The rising level of continuing claims suggests that some who are receiving benefits are finding it harder to land new jobs. That could mean that demand for workers is waning, even though the economy remains strong. The four-week average of weekly claims, which quiets some of the week-to-week volatility, inched up by 1,000 to 226,500.

Weekly applications for jobless benefits are considered representative of U.S. layoffs.

Read more: https://www.usnews.com/news/business/articles/2024-12-26/us-applications-for-unemployment-benefits-hold-steady-but-continuing-claims-rise-to-3-year-high

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Unemployment Insurance Weekly Claims

Initial claims were 219,000 for the week ending 12/21 (-1,000).

Insured unemployment was 1,910,000 for the week ending 12/14 (+46,000).

https://dol.gov/ui/data.pdf
A teal green graphic with white text that reads: Unemployment Insurance Weekly Claims | dol.gov
8:31 AM · Dec 26, 2024

[nmmi]

1. Graph of continuing claims going back to 10/30/21

https://finance.yahoo.com/news/us-applications-unemployment-benefits-hold-133954130.html


The last little local bottom was week ending 9/21/24 at 1.82 Million. The last point is week ending 12/14/24 at 1.91 Million.

The very bottom of the graph is week ending 6/4/22: 1.34 Million.

At the graph at the finance.yahoo.com link above, one can hover one's mouse over a point on the graph and see the number and date for that point pop up.