The number of Americans filing new applications for unemployment benefits fell to a more than three-year low last week, allaying fears of a sharp deterioration in labor market conditions after independent surveys showed job losses in November.

The latest report from the US Labor Department highlighted that initial jobless claims reached 232,000 for the week ending October 18.

The Dow, S&P and NASDAQ finished the week on a winning streak with modest gains, based on Fed cut confidence. The S&P, which flirted with a record high, edged up 13.28 to 6,870.40, the Dow was up 104.05 to 47,954.99 and NASDAQ was up 72.992 points to 23,578.128.

The number of Americans filing new applications for unemployment benefits fell to a seven-month low last week, suggesting layoffs remained low, though the labor market is struggling to generate enough jobs for those out of work amid economic uncertainty.

The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant disrupted the job market. Jobless claims rose for the third straight week — by 55,000 to 286,000, highest since mid ...

Treasury yields rose, reversing Wednesday’s falls but remaining in their recent range. Weekly jobless claims data are due.

The number of Americans filing new applications for unemployment benefits eased slightly last week, Haver Analytics estimated on Thursday, pointing to stable labor market conditions that could provide the Federal Reserve cover to keep interest rates unchanged next month.

Applications for US unemployment benefits fell last week to the lowest in more than three years, indicating that employers are still largely holding onto workers despite a wave of recent layoff announcements.