US Jobless Claims Fall to 216,000 Last Week

The number of Americans filing for unemployment benefits fell last week to 216,000, a decline of 6,000 from the prior week, signaling that overall layoffs remain subdued despite recent job cut announcements from major companies, the Labor Department reported Wednesday.

The figure for the week ending November 22 came in below economists' expectations of 230,000 claims, according to a FactSet survey. Initial jobless claims serve as a key measure of layoff activity and provide a near-real-time gauge of labor market conditions. Officials noted that reductions announced by companies such as Amazon and Target often require weeks or months to take effect, meaning they may not yet appear in the weekly data.

The four-week moving average of claims, which helps account for weekly fluctuations, also eased by 1,000 to 223,750. This trend underscores a labor market characterized by limited hiring and firing, which has helped maintain a historically low unemployment rate. However, it has made reemployment more challenging for those who lose jobs.

Separately, the total number of Americans receiving ongoing unemployment benefits, known as continuing claims, increased by 7,000 to 1.96 million for...