Initial claims for US unemployment benefits rose unexpectedly last week, reaching the highest level since mid-October.
The claims increased by 17,000 to 242,000, during the week ended Dec. 7, the Labor Department data showed.
This came against forecasts for a decline to 220,000, as the previous week's data was revised upward by 1,000 to to 225,000.
The four-week average of claims, which evens out some of that weekly volatility, rose by 5,750 to 224,250, compared with the previous week's unadjusted average of 218,500.
These figures precede the Federal Reserve meeting, where a 25-basis-point rate cut is expected following November's inflation acceleration.
|
US Weekly Jobless Claims |
||||
|
Item |
Last Year |
Last Week |
Current Week |
Change |
|
Initial Claims ('000) |
205.0 |
225.0 |
242.0 |
17+ |
|
4-Week Average ('000) |
211.75 |
218.5 |
224.25 |
5.75+ |
|
No. of Beneficiaries (mln) |
1.818 |
1.871 |
1.886 |
0.015+ |
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