Initial jobless claims for the week ending November 26 decreased by 16,000 to 225,000 (consensus 238,000) while continuing claims for the week ending November 19 increased by 57,000 to 1.608 million.
The key takeaway from the report is that the low level of initial claims remains indicative of an otherwise solid labor market and, importantly, it also continues to favor a potentially softer landing for the economy.
The four-week moving average for initial claims increased by 1,750 to 228,750.
The four-week moving average for continuing claims increased by 30,250 to 1,538,750.
The total number of continued weeks claimed for benefits in all programs for the week ending November 12 was 1,367,913, an increase of 115,477 from the previous week. In the same week a year ago, there were 2,298,126 weekly claims filed for benefits in all programs.