The numbers reflect a still-robust job market despite the Federal Reserve’s efforts to cool the economy and bring down decades-high inflation.
WASHINGTON — The number of Americans applying for jobless benefits fell to the lowest level in more than three months last week, reflecting a still-robust job market despite the Federal Reserve’s efforts to cool the economy and bring down decades-high inflation.
Also Thursday morning, the payroll processing firm ADP reported that the U.S. economy gained 235,000 jobs, well above expectations. Jobless claims are generally viewed as a proxy for layoffs, which have been relatively low since the pandemic wiped out roughly 20 million jobs in the spring of 2020. The government issues its December jobs report on Friday, with economists surveyed by data firm FactSet expecting the U.S. economy to have gained another 200,000 jobs, a healthy number. Employers added 263,000 jobs in November and the unemployment rate stayed at a low 3.7%.
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