U.S. adjusted initial claims rose by 30,000 for the week ending November 21 to a new level of 778,000, higher than expected 730,000, according to the Department of Labor’s press release. Continuing claims rose to five-week highs of 6.071 million, above the expected 6.0 million.
- 4-week average claims were 748,500, up from the expected 743,500
- Unadjusted initial claims under state programs rose 10.5% or 78,372, more than expected 6.5% to a new level of 827,710
- 51 states reported 311,675 initial claims for Pandemic Unemployment Assistance for the week ending November 21
U.S. stocks are mixed. SPY stock is down 0.28%, QQQ: NASDAQ is up 0.42%