Weekly Jobless Claims , Drop to Lowest Level Since , September 2022.br CNBC reports that the labor market has started br 2024 with surprising resiliency, posting an br unexpected drop in initial jobless claims.br For the week ending January 13, initial filings br for unemployment insurance totaled 187,000, br the lowest amount since September of 2022.br According to the latest Labor Department data, br the total marked a 16,000 decline from the week br before and came in under Dow Jones estimates.br The labor market has remained resilient despite br the Federal Reserve's attempts to slow the br economy with an interest rate-hiking campaign.br Not only did weekly claims drop, but continuing br claims also saw a surprising decrease of br 26,000, bringing the total down to 1.806 million. .br Employers may be adding fewer br workers monthly, but they are br holding onto the ones they have br and paying higher wages given br the competitive labor market, Robert Frick, corporate economist br at Navy Federal Credit Union, via CNBC.br Another report, released on January 18, showed br the housing market improving with building br permits increasing by 1.9 to a total of 1.495 million.br CNBC reports that the news comes one day br after the Fed released its periodic summary br of economic conditions, which detailed mostly br stagnant activity since late November.br The central bank's 'Beige Book' report br noted signs of a "cooling labor market" br with lower wage pressures. .br The central bank's 'Beige Book' report br noted signs of a "cooling labor market" br with lower wage pressures. .br The report also highlighted the impact of higher rates on br the housing market, which could improve in the future br if the Fed decides to ease its efforts to tame inflation.