Initial jobless claims increased by 2,000, bringing the total to 223,000. Overall, this figure remains stable. Meanwhile, continuingjobless claims climbed by 33,000, reaching 1.892 million – close to a three year high. These continuing claims have stayed above1.8 million since last June, indicating a concerning trend.
What’s the bottom line? The most recent unemployment data continues to tell a consistent story. Although new claims are still athistorically low levels, the sustained rise in continuing claims points to longer durations of unemployment for many job seekers.