Jobless Claims Up 27,000 To 542,000 in Nov. 15 Week

WASHINGTON — Initial claims for state unemployment jumped 27,000 to 542,000 in the Nov. 15 holiday-shortened week, well below expectations of a 506,000 level but not reflecting anything usual, the Labor Department reported yesterday.

Initial claims are now at their highest level since hitting 564,000 in the July 25, 1992, week.

Seasonal factors had expected unadjusted claims to fall 9.7%, or roughly 52,000, for the holiday week, but they actually fell only 5.0%, or 26,717, to a level of 511,941, a Labor analyst said.

The level of initial claims in the Nov. 15 week is 63,000 higher than the 479,000 level in the Oct. 18 employment survey week.

The previous week’s initial claims level was revised down slightly to 515,000 from the previously reported 516,000 level.

The level of continuing claims jumped 109,000 to 4.012 million in the Nov. 8 week, the highest since the Dec. 25, 1982, week, when 4.381 million were reported.

— Market News International

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