U.S. Jobless Claims Hit 3-Year Low as November Job Losses Surge
Latest labor data shows initial unemployment claims fell, while employers cut 71,000 jobs in November, the steepest monthly decline since 2022.
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Terms & Concepts
- Jobless claims: The number of people filing for unemployment benefits for the first time, used as a measure of labor market health.
- Labor market: The supply of available workers and the demand for them by employers, reflecting employment trends and economic conditions.