Jobless claims increased for the third week in a row and hit a 3-month high, according to the weekly survey from the Department of Labor.
- Seasonally adjusted initial claims were 240,000 for the week ending November 19th, an increase of 17,000 from the previous week’s revised level.
- Economists had projected a smaller increase to 225k. This is the highest level since August 13th when claims were at 245k.
States. Illinois took the top spot with 7,306 new claims followed by a distant California with 5,024 claims for the week ending November the 19th.
- Georgia was number three with 3,434 new claims followed by Minnesota (+3,245) and Michigan (+2,995).
- Only three states saw fewer claims for the week. Montana (-331), North Carolina (-290), and Arkansas (-281).
Continuing Claims. Seasonally adjusted insured unemployment was 1,551,000 for the week ending November 12, an increase of 48,000 from the previous week’s revised level and higher than economist projections of 1.51M.