US jobless claims dip to 220,000 but layoffs are starting to rise

Source: MarketWatch

“The number of Americans who applied for unemployment benefits in mid-November fell slightly to 222,000 — a low number historically — but layoffs have edged higher in the past month as the economy slows. Economists polled by the Wall Street Journal had forecast new claims to total 225,000 in the seven days ended Nov. 12. The figures are seasonally adjusted. … Thirty of the 53 states and U.S. territories that report jobless claims showed a decline and 20 posted an increase. The only state to report a big increase in jobless claims was Minnesota. Kentucky showed the biggest decline. Most other states were little changed.” (11/17/22)