TechFlow news, November 26 — The U.S. reported a decline in weekly initial jobless claims, indicating that unemployment remains low, although the labor market continues to struggle to create enough jobs for the unemployed amid lingering economic uncertainty. Data released on Wednesday showed that seasonally adjusted initial jobless claims fell by 6,000 to 216,000 for the week ending November 22. Economists had previously expected last week's figure to be 225,000. The report was released one day early due to the Thanksgiving holiday on Thursday. Economists said President Trump’s aggressive trade and immigration policies have created an environment where businesses are reluctant to lay off workers or hire more, leading to what they and policymakers describe as a "no-hire, no-fire" labor market. However, some companies, including Amazon, are increasing layoffs as they integrate artificial intelligence into certain roles. Economists expect these layoffs to show up in next year’s initial jobless claims data, though past jobless claim numbers have not always risen in line with announced layoffs. (Jinshi)
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