Overview
- Initial claims fell by 13,000 to a seasonally adjusted 224,000 for the week ended December 13, essentially matching the 225,000 consensus.
- Continuing claims rose by 67,000 to 1.897 million for the week ended December 6, a sign of tepid hiring and longer spells out of work.
- Claims have see-sawed around Thanksgiving due to difficult seasonal adjustments, with the four-week average for initial claims at 217,500.
- November payrolls increased by 64,000 and the reported 4.6% unemployment rate was skewed by data gaps from a 43-day government shutdown.
- The Fed cut rates by 25 basis points to 3.50%–3.75% and signaled a pause as CFO surveys highlight tariffs as a top business concern weighing on headcount plans.