Economic Buzz: US Weekly Unemployment Benefit Claims Rise Modestly

12 Aug 2022 , 09:16 AM

First-time claims for U.S. unemployment benefits saw another modest increase in the week ended August 6th, according to a report released by the Labor Department. The report showed initial jobless claims rose to 262,000, an increase of 14,000 from the previous weeks revised level of 248,000. With the increase, jobless claims reached their highest level since hitting 265,000 in the week ended November 13, 2021. The Labor Department said the less volatile four-week moving average also crept up to an eight-month high of 252,000, an increase of 4,500 from the previous weeks revised average of 247,500. Powered by Commodity Insights