The latest figures indicate a decrease in the number of Americans seeking unemployment benefits, with applications reaching a level not seen in seven months.
The Labor Department disclosed on Thursday that initial jobless claims dropped by 6,000, landing at 213,000 for the week ending November 16. This figure was notably lower than the anticipated 220,000 by economic analysts.
Additionally, the four-week moving average, which serves to stabilize the data against weekly fluctuations, decreased by 3,750, bringing it down to 217,750.
These applications for unemployment benefits are often viewed as an indicator of layoffs within the U.S. job market.
However, continuing claims, which track the total number of individuals actively receiving unemployment benefits, surged by 36,000 to a total of 1.91 million for the week ending November 9.
This rise was unexpected and marks the highest level of continuing claims recorded in the past three years.