🇺🇸 US continuing jobless claims 1908 thousand.
Highest since November 2021!
Chart: @KevRGordon pic.twitter.com/0ni0VFdEPs
— Alex Joosten (@joosteninvestor) November 21, 2024
The latest U.S. Department of Labor data reveals that continuing jobless claims surged to 1.91 million for the week ending November 9, 2024. This marks the highest level since November 2021, signaling potential strain in the job market despite the broader economy remaining strong.
While new jobless claims remain low, the rise in continuing claims suggests many Americans are struggling to secure new employment. This shift points to a possible slowdown in worker demand, with job openings on the decline and fewer opportunities for reemployment.
Recent reports highlight that even as new unemployment applications fell unexpectedly, the number of individuals collecting benefits remains high, with some workers finding it harder to find a job.
Sources:
apnews.com/article/unemployment-benefits-jobless-claims-layoffs-bd560a0b05a569f3d9d09649d317f17c
tradingeconomics.com/united-states/continuing-jobless-claims
money.usnews.com/investing/news/articles/2024-10-24/us-weekly-jobless-claims-unexpectedly-fall
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