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Financial News: U.S. Weekly Jobless Claims Pull Back To 239,000

U.S. Weekly Jobless Claims Pull Back To 239,000

11/22/2017 - 09:10:00 (RTTNews)

(RTTNews) - After reporting an unexpected increase in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Wednesday showing a pullback in initial jobless claims in the week ended November 18th.

The report said initial jobless claims fell to 239,000, a decrease of 13,000 from the previous week's revised level of 252,000.

Economists had expected jobless claims to drop to 240,000 from the 249,000 originally reported for the previous week.

Meanwhile, the less volatile four-week moving average edged up to 239,750, an increase of 1,250 from the previous week's revised average of 238,500.

The Labor Department said claims taking procedures continue to be disrupted in the Virgin Islands, while the ability to take claims has improved in Puerto Rico.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, climbed by 36,000 to 1.904 million in the week ended November 11th.

The four-week moving average of continuing claims inched up to 1,890,000, an increase of 1,000 from the previous week's revised average of 1,889,000.

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