Those who've used up their traditional benefits and are now collecting emergency and extended payments increased by about 69,500 to 3.52 million in the week ended Nov. 12.
Some employers see the need for more workers. Williams- Sonoma Inc. (WSM), a retailer of high-end home goods, raised its annual profit forecast and will "continue to look for a few key jobs" in online sales, Chief Executive Officer Laura Alber said in a Nov. 17 conference call with analysts.
Vail Resorts Inc. (MTN) is among those trimming their workforce. The Broomfield, Colorado-based owner of ski resorts said yesterday it plans to make "selected staff reductions" as it reorganizes.
The unemployment rate among people eligible for benefits increased to 3 percent from 2.9 percent in the prior week, today's report showed.
Forty-six states and territories reported an increase in claims, while 6 reported a drop. These data are reported with a one-week lag.
Initial jobless claims reflect weekly firings and tend to fall as job growth -- measured by the monthly non-farm payrolls report -- accelerates.
Payrolls may have climbed by 125,000 workers in November, after rising 80,000 the prior month, economists surveyed by Bloomberg projected ahead of a Labor Department report due tomorrow. The unemployment rate likely held at 9 percent, it may show.
The Fed's view is that the economy, while strong enough to skirt a recession, remains too weak to bring down the unemployment rate that's been near 9 percent or higher for more than two years.
"Hiring was generally subdued," the central bank said in its Beige Book survey released yesterday. "Overall economic activity increased at a slow to moderate pace" in most of its 12 districts, it said.