Continuing Jobless Claims Reach 6-Month High

Initial Jobless Claims rose by 5,000 in the latest week, with 217,000 people filing for unemployment benefits for the first time. The real story is Continuing Claims, which increased by 35,000, showing that 1.82 million people are still receiving benefits after filing their initial claim. The last time Continuing Claims were this high was back in April.

What’s the bottom line? While Initial Jobless Claims remain relatively low, they have increased for the last two weeks, with the latest data reaching highs not seen since early September. Continuing Claims have also risen for seven straight weeks. Overall, the data shows that employers are trying to hold on to workers, but it’s becoming harder for people to find employment once they are let go.