Reported 1 day ago
New applications for jobless benefits in the US have dipped to their lowest level in a month, signaling a cooling yet stable labor market. Initial claims fell by 1,000 to a seasonally adjusted 219,000 for the week ending December 21, closely aligning with previous averages. However, individuals who lost jobs are taking longer to find new employment, resulting in a rise in those receiving ongoing benefits. The average duration of unemployment is now 23.7 weeks, the longest since April 2022, indicating a shift in labor dynamics despite a stable rate of layoffs.
Source: YAHOO