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 dollar index (DXY00) on Thursday rose by +0.17%. The dollar recovered from a 5-week low on Thursday and moved higher after US weekly initial unemployment claims unexpectedly fell to a 3-year low,

Initial applications for US jobless benefits totaled 232,000 in the week ended Oct. 18, according to the Labor Department website showing historical data for claims.

Initial claims for state unemployment benefits fell 27,000 to a seasonally adjusted 191,000 for the week ended November 29, the lowest level since September 2022. Economists polled by Reuters had forecast 220,000 claims for the latest week. Lisa Bernhard has more.

Here's a look at how weekly unemployment claims changed in Pennsylvania last week compared with the week prior.

Futures for the Dow Jones Industrial Average and other major stock indexes rose modestly in premarket trading Thursday, as Wall Street awaited weekly jobless claims. Among the losers, artificial intelligence stock Snowflake SNOW plunged on the stock market today after the company's earnings results.

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.