The number of Americans filing for first-time unemployment benefits declined to the lowest level in more than three years, new Department of Labor data released on Dec. 4 show.
For the week ending Nov. 29, initial jobless claims fell by 27,000 to 191,000, marking the fourth consecutive weekly drop.
Economists had penciled in a reading of 220,000.
Initial claims for state unemployment benefits, which included last week’s Thanksgiving holiday, are at their lowest level since September 2022. It is also the first time this year that claims were below 200,000.
Claims are typically volatile around this time of the year. However, the four-week average, which removes week-to-week volatility, declined to 214,750—the lowest in 10 months….
US Weekly Jobless Claims Fall to Lowest Level Since September 2022
