12:14 PM EDT, 08/22/2024 (MT Newswires) -- Weekly applications for unemployment insurance in the US increased, while continuing claims reached its highest level since late November 2021, the Department of Labor said Thursday.

The seasonally adjusted number of initial claims rose by 4,000 to 232,000 in the week ended Aug. 17, government data showed, meeting the consensus in a survey of analysts compiled by Bloomberg. The previous week's reading was revised up by 1,000 to 228,000.

The four-week moving average came in at 236,000, down by 750 from the prior average that was revised upwards by 250. Unadjusted claims dropped by 9,270 on a weekly basis to 191,576.

For the week ended Aug. 10, seasonally adjusted continuing claims totaled 1.86 million, its highest point since Nov. 27, 2021. Continuing claims rose by 4,000 from the previous downwardly revised average, but were below the Bloomberg consensus for 1.87 million. The four-week moving average also advanced to its highest level since Nov. 27, 2021, at 1.87 million, gaining 4,750 from the prior week's downwardly revised average, according to the DOL.

Georgia saw the highest increase in initial claims for the week ended Aug. 10, at 693, followed by Michigan and Virginia. The largest decrease was in California, where claims declined by 2,585, followed by Texas with 1,438 and Massachusetts with 972.

On Wednesday, the Bureau of Labor Statistics' preliminary revisions to its nonfarm payrolls data showed that the world's largest economy likely created 818,000 fewer jobs in the year through March than previously reported.

Minutes from the Federal Reserve's July 30-31 monetary policy committee meeting showed Wednesday that the monthly pace of payroll growth had been "solid" in recent months despite moderating from the first quarter. "However, many participants noted that reported payroll gains might be overstated," according to the minutes.