US initial jobless claims rose by 1,000 in the week ended Dec. 2 to a total of 220,000, the US Department of Labor reported today. The previous week’s level was revised upward by 1,000.
However, The Associated Press noted the overall number of people in the US collecting unemployment benefits — continuing claims — fell after hitting its highest level in two years last week. Analysts suggest that continuing claims have been on the rise because many individuals already unemployed may now be having a harder time finding new work.
Meanwhile, the four-week moving average of initial claims rose by 500 in the latest week to a level of 220,750. The previous week’s average was revised upward 250.