New unemployment filings have hovered around 220,000 to 230,000 since the fall — hardly a change.

MarketWatch
A flurry of layoffs by large companies such as Amazon and Verizon has not made a big dent — so far — in the number of people applying for unemployment benefits. That’s a sign that the U.S. labor market is still in stable condition.
So-called initial jobless claims fell to 216,000 in the seven days ended Nov. 22, from a revised 222,000 in the prior week, the government said Thursday. That matches a seven-month low.
New unemployment filings have hovered around 220,000 to 230,000 since the fall — hardly a change.
Jobless claims are also on par with year-ago levels. In the same week of 2024, initial claims also totaled 216,000.
Recently announced layoffs, to be sure, may not have all been implemented yet. Some workers who get severance packages may also not be eligible immediately.
What is clear is that there has been a big slowdown in hiring since the summer. Businesses have become more cautious because of tariffs and less certainty about the future path of the economy. There’s also some evidence that artificial intelligence is supplanting some jobs.
Key details: The number of people already collecting unemployment benefits — known as continuing claims — rose by 7,000 to 1.96 million.
These claims have risen to a post-pandemic high in a sign of how much harder it’s gotten to find a job.
Big picture: The jobs market has cooled off and even turned chilly after several years of rapid hiring following the pandemic.
The Federal Reserve has grown worried enough that it has cut interest rates twice since September and may do so again in a few weeks.
While lower rates might help, economists say, hiring is unlikely to improve much until the trade wars fade and the U.S. begins to grow faster. It could take a while.
Looking ahead: “Despite the high-profile layoff announcements in recent weeks, the government shutdown, and a downbeat assessment of labor conditions by households, claims have not flashed warning signs of an acceleration in layoffs,” said Matthew Martin, senior U.S. economist at Oxford Economics.