Fewer Americans filed for unemployment benefits last week than at any time since 2021, signaling continued labor market stability.
By yourNEWS Media Newsroom
Initial jobless claims fell sharply last week to 191,000, the lowest level in more than three years, according to data released Thursday by the Department of Labor. Economists had forecast 225,000 new claims.
The figure covers the week that included Thanksgiving, a period when reporting can fluctuate due to holiday schedules. The prior week’s total was revised slightly upward to 218,000.
The four-week moving average of new claims, which reduces week-to-week volatility, declined to 214,750. The data suggest that layoffs remain rare even as companies slow hiring near the end of the year.
Despite recent headlines about layoffs in some sectors, the broader labor market remains stable. Employers appear reluctant to cut staff, reflecting continued demand for workers.
Continuing claims—representing those who remain on unemployment rolls—fell to 1.94 million in the week ending November 22. That number has stayed somewhat elevated since mid-year, indicating that while job losses remain limited, displaced workers are taking longer to find new employment.
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