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flag U.S. jobless claims fell to 214,000, but unemployment rose to 4.6% amid hiring slowdown and federal worker cuts.

flag Initial jobless claims in the U.S. fell to 214,000 for the week ending December 20, below the forecast of 224,000 to 232,000, according to the Labor Department, marking a continued trend of low claims. flag However, continuing claims rose to 1.92 million, and the unemployment rate held at 4.6%, the highest since 2021, partly due to a 162,000 drop in federal workers. flag November saw a modest 64,000 job gain, but hiring has slowed since March, averaging 35,000 monthly, down from 71,000 earlier. flag The Federal Reserve cut its benchmark rate by 25 basis points for the third straight time, citing concerns about potential downward revisions to job data and ongoing labor market weakness. flag Major companies have announced workforce reductions, though impacts may lag in official figures.

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