TechFlow, on December 11, U.S. initial jobless claims recorded the largest weekly increase since the pandemic outbreak, rebounding sharply after a significant drop during the Thanksgiving holiday period. Labor Department data showed Thursday that for the week ending December 6, new claims rose by 44,000 to 236,000—the biggest jump since March 2020—following the previous week's figure, which had been the lowest in over three years. Initial claims typically fluctuate widely around year-end due to holiday factors, and such volatility may persist through year-end. However, Thursday’s reading is already among the highest levels so far in 2025. Recently, companies including Pepsi and HP have announced layoff plans, while nationwide job cuts in October reached the highest level since early 2023. In recent months, concerns over the labor market outlook have weighed on consumer confidence. A preliminary University of Michigan survey for December found most respondents expect unemployment to rise over the next year. Continuing claims fell to 1.84 million in the week that included Thanksgiving. (Jinshi)
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