Summary
The Labor Department reported a decrease in unemployment claims last week ahead of the holiday season. The number of claims fell by 10,000, but continuing jobless claims are slightly up. President Trump and economists share different views on the state of job growth and the economy.
Key Facts
- Last week's unemployment claims were 214,000, down from 224,000 the previous week.
- Wall Street expected 231,500 unemployment claims, but actual numbers were lower.
- Continuing jobless claims rose to 1.92 million from 1.88 million.
- The unemployment rate in November climbed to 4.6%.
- The U.S. added 64,000 jobs in November but lost 105,000 jobs in October.
- President Donald Trump commented on job growth via social media, stating new jobs are in the private sector.
- Economists suggest the current hiring slowdown may pressure the Federal Reserve to adjust interest rates.
- Seasonal trends and holiday hiring may temporarily affect unemployment claim numbers.
