FX.co ★ US Initial Jobless Claims Slump to Over 3-Year Low

In the last week of November, which encompassed the Thanksgiving holiday, initial jobless claims in the United States decreased by 27,000 from the previous week, reaching 191,000. This period, typically affected by holiday volatility, experienced a fourth consecutive decline, significantly below the anticipated 220,000, marking the lowest weekly figure since September 2022. Concurrently, continuing claims decreased by 4,000, totaling 1,939,000 in the earlier period. These findings were broadly consistent with other labor market data, reflecting a slowdown in layoffs, while a notable dip in hiring activities kept unemployment insurance levels relatively higher than during the recovery from the Covid pandemic shock. Additionally, initial unemployment claims for Federal employees fell by 599, reaching 1,125, following a brief increase due to the government shutdown.