PYMNTS.com October 24, 2024
The number of initial claims for unemployment insurance dropped, but insured unemployment reached its highest level in about three years, the Department of Labor said in a Thursday (Oct. 24) press release.
There were 227,000 initial claims for unemployment insurance during the week ended Saturday (Oct. 19) — a total that was 15,000 lower than the previous week’s revised number of 242,000, according to the release.
The number for insured unemployment reached 1,897,000 during the week ended Oct. 12 — a number that was 28,000 higher than the previous week’s revised level of 1,869,000 and the highest level since Nov. 13, 2021, when it was 1,974,000, per the release.
The decrease in initial claims marked the second consecutive week of...
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