Sunday, October 2, 2022

US unemployment claims increase by 362,000; third straight increase

30 September (WNN) — The number of US workers applying for new unemployment benefits rose for the third straight week, the Labor Department said in its weekly report on Thursday.

The department said 362,000 were first filed last week, an increase of 11,000 claims.

This figure was about 30,000 higher than the approximately 335,000 claims that most economists had expected.

Thursday’s report was the third in a row to show a weekly increase in early filings after a steady decline during the summer.

With the increase in the last three reports, the four-week moving average rose to 340,000, the department said, an increase of around 4,200.

The report also noted that the number of Americans receiving federal aid fell from 11.2 million in the first week of September to nearly 5 million in the week ending September 11 – a drop of 6.2 million.

Another positive sign from the report is that the total number of filers fell from 18,000 to 2.802 million.

“This is the lowest level of this average since March 21, 2020,” the Labor Department said in a statement.

Thursday’s report said California, Virginia and Ohio led the country with the biggest increases in filings, while Louisiana, New York and Missouri saw the biggest reductions.

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Nation World News Desk
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