Investing.com - The number of people who filed for unemployment assistance in the U.S. rose unexpectedly last week, hitting their highest level since the middle of May.
The U.S. Department of Labor said that the number of individuals applying for initial jobless benefits in the seven days ended November 24 increased by 10,000 to a seasonally adjusted 234,000.
Analysts expected jobless claims to fall by 3,000 to 221,000 last week from the previous week’s total of 224,000.
The four-week moving average was 223,250, an increase of 4,750 from the previous week. The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.
Continuing jobless claims in the week ended November 17 rose to 1.710 million from 1.660 million in the preceding week, compared to expectations for an increase to 1.664 million. These claims reflect people who recently lost their jobs and are already receiving benefits.