Summary
Last week, fewer Americans filed for unemployment benefits, with applications dropping below 200,000. This suggests that layoffs are low, even though the job market is experiencing some challenges.
Key Facts
- Unemployment applications fell to 199,000 for the week ending December 27.
- This is a drop from the previous week's 215,000 applications.
- Analysts had expected 208,000 new applications for unemployment benefits.
- The Labor Department released the report early because of the New Year’s holiday.
- Unemployment filings can be affected by holiday schedules, as shorter weeks may delay claims.
- The U.S. gained 64,000 jobs in November, while 105,000 jobs were lost in October.
- The unemployment rate reached 4.6% recently, the highest since 2021.
