The number of Americans filing new applications for unemployment benefits dropped to an eight-month low last week, pointing to low layoffs at the end of 2024 and consistent with a healthy labor market.

The number of people who applied for unemployment benefits after Christmas fell to an eight-month low, capping off a year of remarkably low layoffs in a surprising resilient U.S. economy.

Initial applications for US unemployment capped 2024 at an eight-month low, reflecting the relatively muted levels of job cuts in a labor market that has remained surprisingly resilient.