According to recent reports, continuing claims for unemployment benefits in the U.S. have reached their highest level in two years. As of the week ending November 18, 2023, approximately 1.93 million people were collecting unemployment benefits, which is about 86,000 more than the previous week. This trend indicates that some individuals who are already unemployed may be facing challenges in finding new work. While the labor market remains strong overall, there are signs of softness, including slower hiring rates and fewer job openings.
Continuing Claims Index highest in 2 years #MacroEdge pic.twitter.com/QXIB6xJdqw
— Don Johnson (@DonMiami3) June 20, 2024
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