Continuing Claims Rise to February Levels
Initial claims for the week ending December 3 increased by 4,000 to 230,000 (consensus 220,000) and continuing claims for the week ending November 26 increased by 62,000 to 1.671 million.
The key takeaway from the report is that continuing jobless claims hit their highest level since February 2022, suggesting perhaps that it is becoming more difficult to find a job as employers are taking a more cautious-minded approach with their hiring plans.
The four-week moving average for initial claims increased by 1,000 to 230,000.
The four-week moving average for continuing claims increased by 43,250 to 1,582,250.
The total number of continued weeks claimed for benefits in all programs for the week ending November 19 was 1,284,024, a decrease of 83,896 from the previous week. In the same week a year ago, there were 1,947,630 weekly claims filed for benefits in all programs.
2-yr: +7 bps to 4.31%
3-yr: +7 bps to 4.05%
5-yr: +9 bps to 3.70%
10-yr: +7 bps to 3.48%
30-yr: +5 bps to 3.47%