US Jobless Claims Drop to 8-Month Low, Indicating Labor Market Resilience

New unemployment claims fell to 211,000 last week, reflecting strong job security despite broader economic cooling.

Initial jobless claims decreased by 9,000 to 211,000 for the week ending December 28, marking the lowest level since March 2024.
Continuing unemployment claims dropped to 1.84 million, a three-month low, signaling reduced layoffs but slower hiring trends.
The four-week moving average for new claims declined to 223,250, smoothing out holiday-related data volatility.
The unemployment rate stands at 4.2%, higher than the 2023 low of 3.4%, as hiring has cooled from pandemic recovery highs.
Economists and policymakers are closely monitoring labor market trends ahead of the December jobs report, expected to show 160,000 new jobs added.