Initial Jobless Claims rose by 2,000 in the latest week, as 216,000 people filed for unemployment benefits for the first time. Continuing Claims, which measure people who continue to receive benefits after their initial claim is filed, fell 6,000 to 1.672 million, though the prior week’s report was revised higher by 7,000.

What’s the bottom line? Continuing Claims have now risen by 308,000 since the beginning of October. This is another sign of a potential slowdown in the pace of hiring, suggesting it’s becoming harder for many to find a job once they’re let go. 

Third Quarter GDP Remains Positive
The final reading of third quarter Gross Domestic Product (GDP) showed that the U.S. economy grew by 3.2%. This is an upward revision from the first and second readings and also better than the 2.9% expected. GDP functions as a scorecard for the country’s economic health, so the positive reading in the third quarter is a welcome sign after two consecutive negative GDP readings in the first and second quarters of this year.