Unemployment claims increase in early November

The level of unemployed Americans interested in insurance claims rose during early November, likely due to the effects from Hurricane Sandy.

The level of unemployed Americans interested in insurance claims rose during early November, likely due to the effects from Hurricane Sandy.

Initial unemployment claims increased to a rate of 439,000 during the week ending November 10, which was 78,000 higher than the previous figure, according to the Department of Labor's Unemployment Insurance Weekly Claims Report. The four-week moving average rose 11,750 from the previous figure, and stood at a total of 383,750.

For the week ending November 3, the insured unemployment rate increased 0.1 percentage point to 2.6 percent percent, the report explained. The seasonally-adjusted insured unemployment advance number rose 171,000, to a level of 3,334,000. Additionally, the four-week moving average rose more than 17,000 to a level of 3,254,500.

Employment issues could affect mortgage records and real estate records in future months. However, the employment situation improved significantly in recent months, which could signal more consumers may look to buy in the future.

According to the Bureau of Labor Statistics, the unemployment rate in October was 7.9 percent, the second month in a row where the figure was below 8 percent.



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