The data released on Wednesday showed that initial jobless claims, seasonally adjusted, decreased by 6,000 to 216,000 for the week ending November 22. Economists had previously expected initial jobless claims to be 225,000 for the past week. The report was released a day early due to the Thanksgiving holiday on Thursday.

Economists say that President Trump's aggressive trade and immigration policies have created an environment in which businesses are reluctant to lay off or hire more workers, leading to what they and policymakers call a "no-hire, no-fire" labor market. But some businesses, including Amazon, are stepping up layoffs as they integrate artificial intelligence into some positions. Economists expect these layoffs to be reflected in next year's initial jobless claims data, although the number of people claiming unemployment benefits in the past has not always increased with announced layoffs. [ODAILY]