Applications for U.S. unemployment insurance unexpectedly fell slightly last week and remained near historic lows, showcasing the strength of the labor market as other parts of the economy cool.
Initial unemployment claims dropped by 4,000 to 222,000 in the week ended Nov. 12, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 228,000 new applications.
Continuing claims rose by 13,000 to 1.51 million in the week ended Nov. 5, the fifth straight increase. If the upward trend is sustained, that could be a sign that an increasing number of Americans are out of work for longer.
