Topline
Applications for unemployment benefits dropped last week to a three-year low, according to data released Thursday by the Labor Department, as concerns about the labor market have persisted among Americans amid a surge in layoffs.
Another report found that layoffs eased in November, despite tallying the most this year so far since 2020.
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Key Facts
Unemployment benefits applications in the U.S. totaled 191,000 last week, the Labor Department reported, a decrease of 27,000 from the revised-down total of 218,000 for the previous week and below Wall Street’s estimates for claims to rise to 221,000, according to FactSet.
That’s the lowest number of applications since March 30, 2023, when 191,000 jobless claims were reported.
Continuing jobless claims, a measurement of people already receiving benefits, fell to 1.93 million, down 15,000 from the previous week.
This is a developing story.