Market Updates
Weekly Jobless Claims Rise to 225,000
Brian Turner
10 Nov, 2022
New York City
U.S. initial jobless claims rose 7,000 to 225,000 for the week ending November 5, the Department of Labor reported Thursday.
In the week, on a seasonally adjusted basis claims gained 19,054 to 205,027.
The 4-week moving average decreased 250 to 218,750 from the previous week's upwardly revised average by 250 to 219,000.
Despite the benign initial jobless claims numbers, data from several states are likely to understate the unemployed.
Florida, Georgia and New Jersey states have struggled for months in providing access to reliable and fully functional unemployment claims filing systems.
Many unemployed workers have not been able to file online claims, especially in Florida, with login glitches and password errors rooted in third party verification systems that have yet to work since the onset of the coronavirus pandemic nearly two years ago.
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