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US Applications for Jobless Benefits Fell Below 200,000 Last Week with Layoffs Historically Low
Jobless claims dropped to 199,000 last week, marking the third consecutive weekly decline amid holiday distortions and ongoing labor market weakness, Labor Department data show.
- For the week ending on December 27, U.S. jobless claims fell by 16,000 to 199,000, the Labor Department released the report a day early for the New Year's holiday.
- With a holiday-shortened reporting week reducing filing opportunities, analysts say hiring hesitancy tied to President Donald Trump's tariff policy and federal employee departures linked to a payroll purge under pressure from Elon Musk shaped filings.
- The four-week moving average climbed to 218,750, rising by 1,750 as analysts surveyed by FactSet forecasted 208,000 and the prior week's seasonally adjusted claims were revised up to 215,000.
- The Federal Reserve trimmed its benchmark lending rate earlier this month as the U.S. unemployment rate rose to 4.6%, the highest since 2021, with Chairman Jerome Powell citing weaker job market concerns.
- Since March, job creation has averaged 35,000 a month, and companies including UPS, General Motors, Amazon and Verizon recently announced cuts that could push claims higher.
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Jobless claims drop to one-month low to cap a tough year for job market
Americans filed the fewest new jobless claims in a month last week, and while the number of unemployed workers collecting relief payments has eased from recent highs, there is little indication of a break from the weak hiring environment that settled in over the course of President Donald Trump‘s first year back at the White House. Initial claims for state unemployment benefits for the week ended December 27 dropped unexpectedly by 16,000 to a s…
Coverage Details
Total News Sources90
Leaning Left13Leaning Right10Center42Last UpdatedBias Distribution65% Center
Bias Distribution
- 65% of the sources are Center
65% Center
L 20%
C 65%
15%
Factuality
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