US Jobless Claims Rise as Labor Market Cools

Despite Increase in Unemployment, Rate Remains Below 4% for 22 Consecutive Months

• US jobless claims rose by 12,000 last week to 218,000, indicating a cooling labor market.
• The number of people receiving benefits after one week of aid rose by 14,000, reaching 1.875 million.
• In November, 199,000 new jobs were created, up from 150,000 in October, and the unemployment rate fell to 3.7% from 3.9%.
• The Federal Reserve has left its benchmark interest rate unchanged for three consecutive policy meetings, signaling an end to its hike campaign.
• The unemployment rate has remained below 4% for 22 straight months, the longest such streak since the 1960s.

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