Weekly Unemployment Claims: Up 28K, Still Better Than Forecast

Here is the opening statement from the Department of Labor:

SEASONALLY ADJUSTED DATA

In the week ending November 27, the advance figure for seasonally adjusted initial claims was 222,000, an increase of 28,000 from the previous week's revised level. The previous week's level was revised down by 5,000 from 199,000 to 194,000. 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 previous week's average was revised down by 1,250 from 252,250 to 251,000.

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 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. [See full report]

This morning's seasonally adjusted 222K new claims, up 28K from the previous week's revised figure, was below the Investing.com forecast of 240K.

Here is a close look at the data over the decade (with a callout for the past year), which gives a clearer sense of the overall trend.