The US labor market has shown resilience, with initial jobless claims reaching an eight-month low. According to the latest data, new applications for unemployment fell by 9,000 to 211,000 in the week ended Dec. 28, beating most estimates. Continuing applications also decreased to a three-month low of 1.84 million in the same period. This indicates that despite some job cuts, the labor market has remained relatively stable throughout 2024.
Source: https://www.bloomberg.com/news/articles/2025-01-02/us-initial-jobless-claims-fall-to-eight-month-low-to-end-2024