US Jobless Claims Surge Most Since 2020 After Holiday Drop

• US jobless claims rose by 44,000 to 236,000 in the week ended Dec. 6, marking the largest weekly increase since March 2020.
• The surge followed a holiday-related drop and comes amidst growing labor market concerns, with companies like PepsiCo and HP planning headcount reductions.
• The Federal Reserve lowered interest rates for a third straight meeting, noting a "gradually cooling" labor market and "significant" downside risks.

Why It Matters: US jobless claims surge, signaling a weakening labor market.