Initial jobless claims fell to 191k in the week ending November 29 (SA), down -27k WoW and below the 225k level from one year earlier, indicating a sharp weekly drop and continued low layoff activity.

• Initial claims (NSA) declined to 197,221, down -49,419 WoW and below the 211,226 reading from the same week last year, showing a sizeable seasonal drop in unadjusted filings.

• The 4 week moving average (SA) decreased to 214,750 (-9,500 WoW), reinforcing a modest downtrend that smooths out recent volatility.

• Insured unemployment (SA) fell to 1.939M in the week ending November 22, down -4,000 WoW and slightly above the 1.871M level a year earlier, suggesting stable continuing benefit usage.

• Insured unemployment (NSA) declined sharply to 1.698M (-81,054 WoW), reversing the prior week’s increase and remaining just above its year ago level of 1.661M.

• The insured unemployment rate (SA) held at 1.3% for a third week, while the NSA rate dipped to 1.1% (-0.1 pp WoW), indicating little change in underlying claims intensity.

• Federal employee claims (UCFE) dropped to 1,125 (-599 WoW) but remained above the 752 level from the same week last year, while newly discharged veteran claims (UCX) declined to 290 (-30 WoW), below the prior year’s 390, signaling subdued filings in these federal sub programs.