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US weekly jobless claims tumble to lowest level in more than three years
Posted on 12/4/25 at 10:52 am
Posted on 12/4/25 at 10:52 am
quote:
WASHINGTON, Dec 4 (Reuters) - The number of Americans filing new applications for unemployment benefits dropped to the lowest level in more than three years last week, allaying fears of a sharp deterioration in labor market conditions and potentially arguing against another interest rate cut from the Federal Reserve next week.
The weekly unemployment claims report from the Labor Department on Thursday, the most timely data on the economy's health, followed on the heels of the ADP employment report on Wednesday showing private payrolls decreased by the most in more than 2-1/2 years in November.
quote:
Initial claims for state unemployment benefits fell 27,000 to a seasonally adjusted 191,000 for the week ended November 29, the lowest level since September 2022. Economists polled by Reuters had forecast 220,000 claims for the latest week.
Unadjusted claims plunged 49,419 to 197,221 last week. The decline was more than double the 21,172 drop that had been anticipated by seasonal factors, the model that the government uses to strip out seasonal fluctuations from the data.
quote:
Employers have announced about 1.171 million job cuts so far this year, up 54% versus the first 11 months of 2024. Most of the layoffs have been in the technology sectors as companies integrate artificial intelligence in some roles.
quote:
Economists view the labor market as remaining in a "no fire, no hire" state. U.S. central bank officials meet next Tuesday and Wednesday to decide on interest rates.
quote:
Labor market stasis has been blamed on reduced labor supply amid a reduction in immigration that started during the final year of former President Joe Biden's term and accelerated under President Donald Trump's administration.
The integration of artificial intelligence into some job roles is also eroding demand for labor, with entry-level positions taking most of the hit.
quote:
The unemployment rate increased to 4.4% in September from 4.3% in August.
LINK
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Posted on 12/4/25 at 10:54 am to ragincajun03
what aboot the price of crawfish?
Posted on 12/4/25 at 10:54 am to ragincajun03
RogerInTheCuckChair won't be happy with this
Posted on 12/4/25 at 10:55 am to ragincajun03
Now do the jobs report
This post was edited on 12/4/25 at 10:58 am
Posted on 12/4/25 at 10:56 am to c on z
quote:
(No message)
You never do.
Posted on 12/4/25 at 10:57 am to c on z
quote:
The Golden Age
quote:Why did you edit your post?
c on z
Posted on 12/4/25 at 10:59 am to Scruffy
Should’ve read. My bad.
Posted on 12/4/25 at 11:31 am to Deep Purple Haze
quote:
what aboot the price of crawfish?
It went up.
TruckNutz [ON] OFF
Posted on 12/4/25 at 11:37 am to Bestbank Tiger
A big part of this is that businesses overhired due to the low interest rates and covid stimulus, which drove employment down to artificially low levels.
So we may be seeing the system going back to equilibrium with some level of AI induced jobs erosion factored in.
So we may be seeing the system going back to equilibrium with some level of AI induced jobs erosion factored in.
Posted on 12/4/25 at 11:41 am to ragincajun03
This article is all over the place. I can't tell if this is good info or not.
~Record low of people filing for unemployment benefits = good
~Unemployment rate increased though?? = bad
~Record low of people filing for unemployment benefits = good
~Unemployment rate increased though?? = bad
Posted on 12/4/25 at 11:51 am to ragincajun03
quote:
number of Americans filing new applications for unemployment benefits
New applications, not renewals.
Posted on 12/4/25 at 12:14 pm to TigerMan327
quote:
This article is all over the place. I can't tell if this is good info or not.
It’s because most layoffs already happened. So there aren’t any new ones in the last week yet unemployment remains elevated due to total job cuts in 2025
Posted on 12/4/25 at 12:19 pm to TigerMan327
quote:
This article is all over the place. I can't tell if this is good info or not.
~Record low of people filing for unemployment benefits = good
~Unemployment rate increased though?? = bad
I think it’s just the mixed bag an economy and jobs market can be in some cycles, despite what our political biases may want it to reflect.
The economy wasn’t always all shite during the previous administration, just like it won’t always be roses and gold under the current one. And vise versa.
This post was edited on 12/4/25 at 12:36 pm
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