Unemployment insurance claims drop by 6,000, reaching 213,000

In the week ending November 16, 2024, the seasonally adjusted initial claims for unemployment insurance decreased by 6,000 to 213,000, signaling a potential improvement in the labor market. This figure is a reflection of the latest trends as reported by the Bureau of Labor Statistics, marking a shift from the previous week's revised level of 219,000.

Seasonally Adjusted Insured Unemployment Rate on the Rise

While initial claims have decreased, the advance seasonally adjusted insured unemployment rate rose to 1.3 percent for the week ending November 9. This increase of 0.1 percentage point signifies the highest level since November 2021, highlighting the mixed signals in the labor market's overall health.

Unadjusted Claims and Insured Unemployment Levels