Jobless claims in the U.S. plunge to three‑year low over Thanksgiving

U.S. applications for unemployment benefits dropped sharply last week, reaching their lowest level in more than three years, according to new data from the U.S. Department of Labor. For the week ending November 29, initial jobless claims fell by 27,000 to a seasonally adjusted 191,000 — the lowest reading since September 2022. Despite the encouraging drop, economists caution that the numbers may be distorted by the timing of the Thanksgiving holiday, when layoffs are often delayed or filings postponed. Still, the data signals that layoffs remain muted even as hiring has slowed, pointing to a labor market that’s largely in a "no‑hire, no‑fire" mode. At the same time, independent reports from private firms — including ADP and Revelio Labs — suggest the United States may be seeing net job losses in November, especially in sectors like hospitality, retail, and manufacturing. All eyes are now on the upcoming full employment report from the Bureau of Labor Statistics, delayed by a government shutdown, which is due to publish on December 16 and could reshape expectations for the next Federal Reserve rate decision. #JoblessClaims #LaborMarket #Unemployment #EconomicData #SlimScan #GrowthStocks #CANSLIM