Jobless Claims Rise But Labor Market Remains Strong Despite Challenges
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More Americans filed jobless claims last week, but the labor market remains healthy despite inflation and interest rates.
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Jobless claims rose by 13,000 to 231,000, the most in 3 months. The 4-week moving average rose to 220,250.
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1.87 million people collected unemployment benefits, about 32,000 more than the previous week.
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Inflation reached a 4-decade high in 2022, so the Fed has raised rates 11 times since March to cool the economy and labor market.
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U.S. employers added 150,000 jobs in October, down from 297,000 in September but still showing companies want to hire.