U.S. weekly initial jobless claims declined, indicating a stable labor market.

The number of initial jobless claims in the U.S. fell, indicating that unemployment remains low, although the labor market is struggling to create enough jobs for the unemployed amid lingering economic uncertainty. Data released Wednesday showed that seasonally adjusted initial jobless claims fell by 6,000 to 216,000 in the week ending November 22. Economists had expected 225,000 claims for the previous week. The report was released a day early due to the Thanksgiving holiday on Thursday. Economists say President Trump’s aggressive trade and immigration policies have created an environment where businesses are reluctant to lay off or hire more workers, leading to what they and policymakers call a “neither hire nor fire” labor market. However, some companies, including Amazon, are ramping up layoffs as they integrate artificial intelligence into some positions. Economists expect these layoffs to be reflected in next year’s initial jobless claims data, although historically, the number of people applying for unemployment benefits has not always increased with the announcement of layoffs. (Jinshi)