Labor market tightening; layoffs lowest in nearly 30 years | Kitco News

The upbeat news on the labor market added to strong consumer spending and manufacturing data in suggesting that the economy was accelerating after hitting a speed bump in the third quarter.

Initial claims for state unemployment benefits rose 28,000 to a seasonally adjusted 222,000 for the week ended Nov.

Also arguing for continued improvement in the labor market, the ADP National Employment report on Wednesday showed private payrolls increased by 534,000 jobs last month.

There were 10.4 million job openings as of the end of September.

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