Weekly Jobless Claims Hold Near Two-Year Lows as GDP Growth Gets Final Boost

The latest batch of economic data points to continued stability in the job market alongside stronger-than-expected growth last quarter.

First-time unemployment benefit applications came in at around 200,000 last week, according to the Bureau of Labor Statistics. That's up 1,000 from the prior week but keeps the four-week average at its lowest level in two years—a sign that layoffs remain relatively contained.

However, continuing claims—which track people receiving ongoing unemployment benefits—are still hovering near four-year highs, suggesting some workers are taking longer to find new jobs once they're out of work.

Separately, the third and final revision of third-quarter GDP nudged the growth rate up from 4.3% to 4.4%, marking the fastest pace of economic expansion in two years.