12:19 PM EST, 11/21/2024 (MT Newswires) -- Weekly application volume for unemployment insurance in the US declined last week to its lowest level since late April, while continuing claims rose to their highest point since November 2021, the Department of Labor said Thursday.

For the week ended Nov. 16, the seasonally adjusted number of initial claims decreased by 6,000 to 213,000, representing its lowest level since the week ended April 27, government data showed. The consensus was for a 220,000 level in a survey of analysts compiled by Bloomberg. The previous week's reading was revised up by 2,000 to 219,000.

The four-week moving average came in at 217,750, down by 3,750 from the prior average that was revised up by 500. Weekly unadjusted claims dropped by 17,750 to 213,035.

"We are entering a period when seasonal factors will make the weekly data volatile, so we won't read much into one week's change in claims," Oxford Economics Lead US Economist Nancy Vanden Houten said in remarks emailed to MT Newswires. "Still, after being boosted by the Boeing (BA) strike and Hurricanes Helene and Milton, claims have returned to a level consistent with limited layoffs."

Seasonally adjusted continuing claims totaled 1.91 million for the week ended Nov. 9, its highest level since Nov. 13, 2021, exceeding the Bloomberg consensus of about 1.88 million. Continuing claims jumped by 36,000 from the previous week's level, which was revised down by 1,000. The four-week moving average came in at 1.88 million, its highest point since Nov. 27, 2021, advancing by 5,000 from the prior week's downwardly revised average, according to the DOL.

"Continued claims were still elevated in the state of Washington, likely a function of the Boeing strike and we should see claims in that state decline in the weeks ahead," according to Vanden Houten. "Claims were also relatively high in North Carolina, which was hard hit by Helene, and in Michigan and Ohio, where many autoworkers have been laid off. Claims in those states may be slower to decline."

California saw the highest increase in initial claims for the week ended Nov. 9, at 5,906, followed by New Jersey with 2,439 and New York with 2,327. The largest decrease was in Michigan, where claims fell by 4,072, followed by Kansas and Wisconsin.