Market Updates
Continuing Jobless Claims at 8-month High
Brian Turner
17 Nov, 2022
New York City
For the week ending November 12, initial jobless claims declined 4,000 to 222,000 .
The claims in the previous week were revised to 226,000., said the U.S. Department of Labor in its weekly report.
Continuing jobless claims rose to 1.507 million for the week ending on November 5 from the previous week's 1,494 million claims.
The continuing claims have jumped to the March 26 level of 1.529 million.
Despite the historic low level of insured unemployment rate, the government reported data understate the unemployed counts.
A number of states are still struggling with online systems where unemployed can file their jobless claims.
For example, Florida's filing system for jobless claims is filled with glitches and malfunction that goes back to the pandemic era causing many to lose benefits for weeks.
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