The number of jobless claims in the US increased less than expected at the beginning of the week to December 17, indicating that the job market was still tight, and the economy rebounded faster than previously anticipated in the third quarter. The number of jobless claims has fluctuated at the beginning of recent weeks, but it is still below the threshold of 270,000. Analysts say this will be a dangerous sign for the job market. Massive layoffs in interest rate sensitive industries such as the technology industry and real estate did not have a substantial impact on initial jobless claims. Strong labor market growth helps support the economy by generating steady wage increases, which helps increase consumer spending. The final Q3 GDP figures released at the same time confirmed that the US economy rebounded in the third quarter after experiencing contraction in the first half of this year. Despite growing concerns about the recession and the real estate market falling into a slump, expectations for economic growth in the fourth quarter were as high as 2.7%, and consumers would bear a heavy responsibility. Savings accumulated during the pandemic also supported this growth.