U.S. weekly first-time unemployment claims reach 242,000

Dec. 12 (UPI) -- The number of people filing for unemployment benefits for the first time reached a seasonally adjusted 242,000 last week, its highest total since mid-October and one of the highest weekly totals of 2024.

The Labor Department said the jobless benefits filings for the week ending Dec. 7 increased by 17,000 from the week before. That was the highest one-week increase since the statistics jumped 35,000 on the week ending Oct. 5 when the report reached its one-week first-time filing high of 260,000.

The 242,000 initial unemployment insurance filings tied the mark for the week ending Oct. 23. It also marked the second straight weekly increase for first-time applications since falling to 215,000 for two consecutive weeks.

The moving four-week average for first-time unemployment application filings was 224,250, an increase of 5,750 from the previous week's revised total of 218,500.

The total number of people filing for weekly unemployment benefits for the week ending Nov. 30 reached 1.886 million, an increase of 15,000 from the previous week. The four-week moving average reached 1.888 million. It marked the highest four-week average on Nov. 27, 2021.