The number of new applicants for unemployment benefits in the United States fell last week to its lowest level in more than three years, indicating the resilience of the labor market despite ongoing economic challenges.

The Department of Labor announced on Thursday that initial jobless claims declined by 27,000 to 191,000, seasonally adjusted, for the week ending November 29, the lowest level since September 2022.

The figures were also well below economists’ expectations surveyed by Reuters, which had projected 220,000 claims.