Unemployment claims hit highest level since mid-September
CNNNew York CNN Business — America’s job market recovery has hit a bump in the road. Together, first-time claims totaled 1.4 million last week, not adjusted for seasonal changes, also the highest level since mid-September. Continued jobless claims, which count workers who have filed for unemployment benefits for at least two weeks in a row, rose to 5.8 million with seasonal adjustments in the week ended November 28. “Last week’s jobs report showed a rapid deceleration in the recovery in November, and surging UI claims only add to the picture of a slowing recovery this winter,” Zhao said. Last week, the US Government Accountability Office said in a report that the Labor Department’s data wasn’t an accurate estimate of how many Americans are actually receiving benefits.