Initial jobless claims in the United States rose for a second week to the highest level since Nov. 26, 2021, indicating a contraction in the labor market, according to the U.S. Labor Department on Aug. 11.
Applications for unemployment claims climbed by 14,000 to 262,000 from 248,000 in the week ended Aug. 6, after being revised lower the prior week.
The four-week moving average of initial claims, which has been rising steadily since early April, rose to 252,000, a 4,500 increase from the previous week’s average.
Jobless claim figures for some states in the latest readings have been volatile week-to-week, Massachusetts in particular.
The states with the biggest increases in claims were Massachusetts, California, and New Jersey, while the biggest declines were in Connecticut, Michigan, and Georgia….