Summary
Applications for unemployment benefits in the U.S. dropped to 191,000, the lowest since September 2022. This decline in claims may influence the Federal Reserve's decision on interest rates.
Key Facts
- U.S. jobless benefit applications fell to 191,000 for the week ending November 29.
- This is the lowest level of claims since September 24, 2022, when they were 189,000.
- The previous week's claims were at 218,000.
- Analysts had expected claims of 221,000 according to FactSet data.
- Unemployment claims are used to estimate layoffs and the job market's health.
- Job reductions announced by companies like UPS and Amazon may take time to show in the data.
