Jobless claims reach 1.9 million, the highest level since August

Unemployment Benefits Rise for Millions of Americans

In mid-October, over 1.9 million Americans applied for unemployment benefits, marking the highest figure seen since early August, according to data from the Department of Labor (DOL).

For the week ending October 18, there were 1,957,000 claims, with 232,000 being new submissions. This information is gathered by the DOL’s Office of Employment and Training and is adjusted for seasonal variations.

A comparison shows an increase of 10,000 claims since the week ending September 20, reaching levels not seen since 1.961 million claims the week of August 9.

In recent weekly reports, the number of individuals filing for unemployment benefits has fluctuated between 1.916 million and 1.947 million.

It’s worth noting that data for the weeks ending September 27, October 4, and October 11 was not compiled due to a government shutdown that lasted 43 days, affecting various federal agencies.

The rise in new claims reflects an increase of 13,000 compared to the week ending September 20 and matches the total claims for the week ending September 13.

For the week ending October 19, 2024, there were approximately 1.855 million weekly jobless claims, with 228,000 being new claims. By the end of the first week of this year, 1,888,000 Americans had applied for jobs, including 217,000 new applicants.

The Hill sought comments from the DOL regarding these latest figures.

In related news, Kevin Hassett, Director of the National Economic Council, indicated to CBS News on November 9, prior to the government shutdown’s conclusion, that if the deadlock persists past Thanksgiving, the country may see negative growth in the final quarter of 2025. The real GDP had reduced at an annual rate of 0.6% in the first quarter but rebounded with a 3.8% increase in the second quarter, based on reports from the Bureau of Economic Analysis (BEA).