New unemployment claims in the U.S. dropped last week, staying at healthy levels despite job market soft spots. Applications fell by ten thousand to two hundred fourteen thousand, beating analysts expectations of two hundred thirty-two thousand. The report also showed November added sixty-four thousand jobs, but October saw a loss of one hundred five thousand, mostly from federal workers leaving due to Elon Musks purge. The unemployment rate ticked up to four point six percent last month, the highest since twenty twenty-one. Hiring has slowed, averaging just thirty-five thousand jobs a month since March, compared to seventy-one thousand before. The Fed cut its key rate by a quarter point earlier this month, the third cut in a row. The four-week average of claims eased to two hundred sixteen thousand seven hundred fifty, while continuing claims rose to one point nine two million for the prior week. Companies like UPS, General Motors, Amazon, and Verizon have announced cuts, which will show up in data over time.

The Daily News Now! — Every city. Every story. AI-powered.

---

Hosted on Acast. See acast.com/privacy for more information.