Jobless Claims Rise to 3-Month High as Labor Market Cools
- Jobless claims rose by 13,000 last week to 231,000, the most in 3 months
- Continuing claims rose for the 6th straight week, indicating some softening in labor demand
- Job growth remains strong but there are signs of cooling in line with the Fed's goals
- Employers added 150,000 jobs in October, the 3rd month under 200,000 gains
- Inflation ebbed in October with no monthly increase, giving the Fed room on rate hikes