The U.S. Labor Department said on the 26th (local time) that initial jobless claims for last week (Nov. 16–22) came in at 216,000.
That was down 6,000 from the previous week and the lowest level in two months since the third week of September (an increase to 219,000). It also came in below the 225,000 estimate compiled by Dow Jones. The fact that initial jobless claims did not increase suggests layoffs did not rise.
Continuing claims, which are for people receiving benefits for two weeks or more, rose by 7,000 to 1.96 million for Nov. 9–15. The prior week's continuing claims were revised down by 21,000 to 1.953 million.
With the release of the October jobs report canceled due to the recent U.S. federal government shutdown, Wall Street is focusing on labor indicators such as jobless claims to gauge the labor market trend.