The number of Americans filing new applications for unemployment benefits rose more-than-expected last week, but that’s not likely to indicate a significant change in job market conditions.
The Labor Department said Wednesday that first-time jobless claims rose by 17,000 to a seasonally adjusted 240,000 in the week ending Nov. 19.
The previous week’s data was revised to show an increase of 1,000 claims over the previously announced figure. Economists polled by Reuters had expected the number of jobless claims to hit 225,000 in the past week.
Unemployment data was released a day early due to the Thanksgiving holiday on Thursday. It is likely that the increase recorded last week is due to technical reasons, in as economists said the model used by the government to adjust data for seasonal fluctuations usually predicts increased demand due to businesses temporarily closing their doors on holidays.
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