US Initial Jobless Claims Increased Last Week to 218,000

Initial applications for US unemployment benefits increased last week to a level that remains consistent with a resilient labor market.

First-time claims rose by 12,000 to 218,000 in the week ended Dec. 23. The figures tend to be volatile around the holidays. The four-week moving average, which offers a clearer picture of the trend, was little changed at 212,000 last week, the lowest since late October.

Continuing applications, a proxy for the number of people collecting unemployment benefits, rose to 1.88 million the week prior.

Despite last week’s increase, first-time applications for unemployment benefits remain near historical lows, ...