Americans filing for unemployment insurance on an ongoing basis reached the highest level since November 2021 at the end of July. In the week ending July 26, 1.974 million continuing claims were filed, up from 1.936 million the week prior and the highest level seen since November 2021, according to data from the Department of Labor released Thursday morning. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Meanwhile, weekly filings for unemployment benefits increased to 226,000 in the week ending Aug. 2, up from 221,000 the week prior. The July jobs report showed the US economy added 73,000 jobs while the unemployment rate moved higher to 4.2%.
