US jobless claims fall to the lowest level since September 2022 as layoffs stay muted

Core Viewpoint - Initial claims for US unemployment benefits have decreased significantly, reaching the lowest level in over two years, indicating that layoffs are limited despite a slowdown in hiring across the economy [1] Group 1 - The number of initial claims for unemployment benefits fell sharply last week [1] - The current level of claims is the lowest seen in more than two years [1] - This decline suggests that layoffs remain muted in the current economic environment [1] Group 2 - The overall hiring across the economy is experiencing a slowdown [1] - Despite the hiring slowdown, the labor market shows resilience with low levels of layoffs [1]