The data from
the Labor Department revealed on Thursday the number of applications for
unemployment benefits remained unexpectedly unchanged last week, suggesting some
softening in the labor market.
According to
the report, the initial claims for unemployment benefits were flat at a
seasonally adjusted 227,000 for the week ended November 16. That was the
highest reading since June 22.
Economists had
expected 219,000 new claims last week.
Claims for the
prior week were revised upwardly to 227,000 from the initial estimate of
225,000.
Meanwhile, the
four-week moving average of claims rose by 3,500 to 221,000 last week.