US initial jobless claims surged to 853k, continuing claims rose to 5.8m

US initial jobless claims rose 137k to 853k in the week ending December 5, well above expectation of 723k. Four-week moving average of initial claims rose 35.5k to 776.0k.

Continuing claims rose 230k to 5757k in the week ending November 28. Four-week moving average of continuing claims dropped -260k to 5936k.

Full release here.

CPI came in at 0.2% mom, 1.2% yoy in November. CPI was core at 0.2% mom, 1.6% yoy.