U.S. Job Market Stays Strong Despite Higher Interest Rates

The number of Americans applying for unemployment benefits was unchanged last week at 209,000. This indicates a strong U.S. job market despite higher interest rates.

Unemployment claims remain at historically low levels, signaling that American workers have extraordinary job security.

The U.S. economy and job market have remained strong even as the Federal Reserve has raised interest rates to curb inflation.

There are hopes the Fed can bring down inflation without triggering a recession, as job growth stays healthy and inflationary pressures ease.

Overall layoffs remain low and demand for workers remains strong, with businesses not rapidly shedding workers despite the Fed's actions.