U.S. continuing claims rise to highest in more than three years

Recurring applications for U.S. unemployment benefits rose to the highest in more than three years, adding to signs that it is taking longer for out-of-work people to find a job.

Continuing applications, a proxy for the number of people receiving benefits, rose to 1.91 million in the week ended Dec. 14, according to Labor Department data released Thursday. Initial claims, meanwhile, ticked down to 219,000 in the week ended Saturday.

Recurring filings have been gradually trending up this year, consistent with other data showing the unemployed are having a harder time finding work.

The number of jobs in the Spokane area inched upward in November, the Journal of Business reported, as did the unemployment rate, according to preliminary data from the Washington state Employment Security Department.

Total employment rose to 272,700 in the Spokane-Spokane Valley Metropolitan Statistical Area in November, up 300 jobs from the previous month and an increase of 4,900 from November 2023.

Federal Reserve Chair Jerome Powell said last week that the labor market remains “in solid shape,” although policymakers are keeping a close eye for any sign of deterioration. The labor market is cooling, but not in a way that would raise concerns, Powell said at a news briefing following policymakers’ decision to cut interest rates for the third time in three months.

The four-week moving average of new applications, a metric that helps smooth out volatility, rose to 226,500.

Before adjusting for seasonal factors, initial claims rose last week. New Jersey, Connecticut and California registered the biggest increases while Florida, New York and West Virginia saw the largest declines.