US initial jobless claims fell sharply by -27k to 191k in the week ending November 29, far below expectations of 220k, and marking the lowest level since September 2022. The four-week moving average also by -9k eased to 215k.
Continuing claims slipped modestly by -4k to 1.939 million in the week ending November 22. Their four-week average edging down by -6k to 1.945 million, indicating some stabilization after earlier signs of softening.
The data stand in contrast to the recent deterioration seen in other labor indicators, including the weak ADP report, and highlight ongoing tightness in the job market despite clear signs of cooling elsewhere.
