Dec. 5 (UPI) — The number of people filing for weekly unemployment benefits for the first time rose 9,000 last week from the period before to a seasonally adjusted 224,000 as the key economic statistic continued its rollercoaster ride at the end of the year.
The new initial filing total for the week ending Nov. 30, was the highest total of people filing for unemployment insurance for the first time since the week ending Oct. 19 with 228,000 making their inaugural claims.
The key figure, watched by the Federal Reserve as a snapshot of workforce stability, reached its highest figure for first-time filers for the week ending Oct. 5 with 260,000. Weekly initial filings have continued to drop unevenly since then to an adjusted 215,000 for the week ending Nov. 16 and Nov. 23.
The four-week moving average for those making initial applications for unemployment insurance was 218,250 for the week ending Nov. 30, an increase of 750 from the previous week’s revised average.
The overall number of those filing for weekly unemployment benefits for the week ending Nov. 23 was 1.871 million, according to the Labor Department, a decrease of 25,000 from the previous week’s total.
The previous week’s total was revised down by 11,000 to 1.896 million, the department said.
The four-week moving average of all workers filing for weekly jobless claims was 1,884,250, a drop of 3,250 from the previous week’s revised average.