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Jobless claims tumbled to 3-year low in a no-hire, no-fire U.S. economy
The number of people who applied for unemployment benefits around the Thanksgiving holiday fell to a more than three-year low, reinforcing the view that businesses are mostly avoiding layoffs even as they freeze hiring. So-called initial jobless claims sank by 27,000 in the seven days ended Nov. 29, from a revised 218,000 in the prior week, the government said Thursday. It's the lowest reading since September 2022. The drop in new claims was likely exaggerated by Thanksgiving. Lots of people who lose jobs around a holiday tend to delay filling out their applications. Key details: The number of people already ... (full story)