US Jobless Claims Hit Six-Month Low Amid Strong Labor Demand
The U.S. Department of Labor reported a decrease in initial unemployment claims to 217,000 for the week ending November 9, down 4,000 from the previous week. The four-week moving average also fell to 221,000, indicating a slight improvement in the labor market. The insured unemployment rate remained steady at 1.2%, with the number of insured unemployed decreasing by 11,000 to 1,873,000.