New jobless claims decline to 712,000 after rising 2 weeks in a row


The number of Americans filing new jobless claims has declined, even as it remains above the pre-pandemic record.
The Labor Department on Thursday said 712,000 Americans filed new jobless claims last week, below the 780,000 claims economists had been expecting, NBC News reports.
The dip occurred after two weeks in a row of the number of new claims unexpectedly rising, The New York Times notes. Last week, the Labor Department reported 778,000 new claims, which came in worse than the 733,000 claims economists anticipated. This was the "first back-to-back increase since July," Bloomberg reported.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
This week's number of claims, 712,000, is the lowest to be reported during the COVID-19 pandemic, CNBC reports. Still, the number continues to surpass 695,000, which was the all-time record for most new jobless claims in a week prior to the coronavirus pandemic.
Additionally, economist Diane Swonk told the Times the decline may be due to Thanksgiving, explaining, "People don't apply as much when there are holidays. There is a natural falloff that occurs, but we just don’t know how big it was."
Economist Ian Shepherdson also warned in a note, "The plunge in initial claims does not refute the idea that the trend is rising; we expected a sharp fall because of the difficulty of adjusting for Thanksgiving," per CNBC. "Initial claims likely will rebound strongly next week, probably rising above the 800K mark for the first time in eight weeks."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
Film reviews: The Phoenician Scheme, Bring Her Back, and Jane Austen Wrecked My Life
Feature A despised mogul seeks a fresh triumph, orphaned siblings land with a nightmare foster mother, and a Jane fan finds herself in a love triangle
-
Music reviews: Tune-Yards and PinkPantheress
Feature "Better Dreaming" and "Fancy That"
-
Withdrawing 529 plan funds for college? Here's what to know.
the explainer Maximize the amount you have stashed away for your education
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect