The number of Americans filing first-time unemployment benefit claims rose by 9,000 to 200,000 last week, above market expectations, the US Labor Department said Thursday.
The figure for the week ending Nov. 7 exceeded the forecast of 194,000. The previous week’s reading was revised upward by 2,000 to 191,000 from 189,000.
The four-week moving average, which smooths out weekly fluctuations, remained unchanged at 195,250. The previous week’s average was revised upward by 500.
Continuing claims, which reflect the number of people receiving unemployment benefits after an initial claim, fell by 20,000 to 1.697 million in the week ending Oct. 31.
The previous week’s figure was revised downward by 1,000 to 1.717 million.
The four-week moving average for continuing claims declined by 1,500 to 1.708 million.
Meanwhile, the seasonally adjusted insured unemployment rate stood at 1.1% in the week ending Oct. 31, unchanged from the previous week.
Initial jobless claims serve as an indicator of layoffs, while continuing claims offer insight into how quickly unemployed workers are finding new jobs.
In October, the US economy added 165,000 jobs, exceeding expectations of a 65,000 gain.
The unemployment rate fell to 4.1% in October from 4.2% in September.