Jobless Claims Drop Back to 225K

States reported that 225,000 workers filed for new unemployment benefits during the week ending Nov. 26, a decrease of 16,000 from the previous week’s revised level. Jobless claims were at a three-month high amid rising layoffs in the technology sector, but still within what is considered normal as the labor market remains tight. The number of workers continuing to claim unemployment benefits—1.6 million—has been steadily rising through the year but is still below the prepandemic average of 1.7 million.
Source: New feed 2