The number of people who applied for unemployment benefits after Christmas fell to an eight-month low, capping off a year of remarkably low layoffs in a surprising resilient U.S. economy.

The number of Americans filing new applications for unemployment benefits dropped to an eight-month low last week, pointing to low layoffs at the end of 2024 and consistent with a healthy labor market.

The number of people filing new applications for unemployment insurance fell to the lowest level since last April as the job market showed signs of strength within a broader cooling off in employment conditions.