US weekly jobless claims fall to 11-month low on stable labour market

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US weekly jobless claims fall to 11-month low on stable labour market - Business Standard

Quick Summary:

Labor market stability was underscored by government data on Tuesday showing an increase in job openings in November, with 1.13 vacancies for every unemployed person, up from 1.12 in October.

While layoffs have remained low by historical standards, hiring has slowed, with the ADP National Employment on Wednesday showing private payrolls increased by 122,000 jobs in December after rising 146,000 in November.

Though claims tend to be volatile at the turn of the year, they have bounced around levels associated with low layoffs that are underpinning the labor market and broader economy.