U.S. Jobless Claims Fall to Lowest Level Since 2022

Initial claims for unemployment in the U.S. fell to 191,000 in the week ending November 29, down 27,000 from the previous week's revised level of 218,000 according to the Department of Labor. This is the lowest recorded jobless claims since September 2022. The 4-week moving average also fell to 214,750, a decline of 9,500. Insured unemployment rate held steady at 1.3% for the week ending November 22, with 1,939,000 people receiving benefits, down 4,000 from the prior week. Its 4-week moving average fell by 6,250 to 1,945,250. Unadjusted initial claims totaled 197,221, a drop of 49,419 from the previous week, while unadjusted insured unemployment fell to 1,698,312, down 81,054. Continued claims benefits in all programs rose to 1,822,491 for the week ending November 15. The highest insured unemployment rates were in New Jersey (2.3), Washington (2.3), California (2.0) Massachusetts (2.0), and Puerto Rico (1.9).