Today’s weekly unemployment insurance claims report from the Labor Department showed a sharp spike from pre-election weeks.
For the week ending Nov. 10, the advance figure for seasonally adjusted initial claims was 439,000, an increase of 78,000 from the previous week’s revised figure of 361,000.
In the week ending Nov. 3, the advance figure for seasonally adjusted initial claims was 355,000, a decrease of 8,000 from the previous week’s unrevised figure of 363,000.
For the week ending Oct. 27, the advance figure for seasonally adjusted initial claims was 363,000, a decrease of 9,000 from the previous week’s revised figure of 372,000.
And the week ending Oct. 20 showed claims down 23,000 as the advance figure for seasonally adjusted initial claims was 369,000.
A jump in claims was expected after Superstorm Sandy forced many businesses to shut down, even temporarily. But today’s numbers far outpace what economists had projected: that weekly applications rose by 14,000.
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