Jobless Claims Jump to 224,000, Much Worse Than Expected

The number of U.S. workers filing new applications for unemployment benefits jumped 3,000 to a seasonally adjusted 224,000 in the week ended November 17, the Labor Department said Wednesday.

Initial jobless claims are a proxy for layoffs. They have been closely watched to see if the trade war might weigh on the U.S. labor market, which has been very robust for the past two years. Until recently, jobless had been at record lows. In recent weeks, however, jobless claims have been climbing.

Economists had forecast 215,000 new applications for jobless benefits last week. At 224,000 for the week, jobless claims came in above the range of estimates of economists surveyed by Bloomberg’s Econoday.

In addition to the higher than expected number for last week, the prior week was revised up from 216,000 to 221,000.


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