The number of Americans filing for unemployment benefits decreased last week, signaling a strengthening labor market. Continuing claims also dropped, indicating that fewer people are relying on unemployment assistance.
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FILE - A hiring sign is displayed in the window of a Krispy Kreme donut shop on Nov. 19, 2024, in Lone Tree, Colo. Jobless claim applications declined by 22,000 to 220,000 for the week of Dec. 14, the Labor Department reported Thursday. That’s fewer than the 229,000 analysts were forecasting. Continuing claims, the total number of Americans collecting jobless benefits, fell by 5,000 to 1.87 million for the week of Dec. 7. That was also fewer than analysts had projected.
The four-week average of weekly claims, which quiets some of the week-to-week volatility, rose by 1,250 to 225,500.While the job market has shown some softening recently, it remains broadly healthy and has held up better than many experts predicted considering that interest rates have been elevated for years. The Federal Reserve instituted a flurry of rate increases in 2022 and into 2023 to try to suppress the four-decade high inflation that took hold when the U.S.
JOBLESS CLAIMS LABOR MARKET ECONOMY EMPLOYMENT UNEMPLOYMENT BENEFITS
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