U.S. jobless claims total 268,000, about as expected

The Labor Department reported that first-time claims for unemployment insurance were little changed over the past week.

The initial filings for the week ended Nov. 13 totaled 268,000, a decline of 1,000 from a week ago and slightly higher than the estimate of 260,000.

The total was the lowest since the beginning of the Pandemic and in line with where claims have been over the past month.

The four-week moving average fell just a bit above the total for the most weekly count.

The continuing claims fell by 129,000 to 2.08 million, a low dating back to March 14, 2020, a week after the headline number.

The totals for regular and continuing claims were down, but the trailing numbers for those receiving benefits under all programs were up. The total rose by over 600,000.

The total for the Pandemic Unemployment Assistance program rose from the end of September to the end of October.

The Labor Department didn't explain why there was a big surge in filings.

This is breaking news. You can check back here for more updates.