Slightly more Americans apply for jobless benefits last week
The number of Americans applying for jobless benefits rose slightly last week, but the labor market remains healthy despite recent job cuts that have begun to spread across sectors most affected by soaring interest rates, such as housing and technology
By MATT OTT
Published - Nov 10, 2022, 08:48 AM ET
Last Updated - Jun 23, 2023, 04:40 PM EDT
WASHINGTON (AP) — The number of Americans applying for jobless benefits rose slightly last week, but the labor market remains healthy despite job cuts that have begun to spread across industries most affected by soaring interest rates, such as housing and technology.
Unemployment claims for the week ending Nov. 5 rose by 7,000 to 225,000 from 218,000 the previous week, the Labor Department reported Thursday. The four-week moving average declined by 250 to 218,750.
Benchmark borrowing rates
Applications for jobless claims, which generally track layoffs, have remained historically low this year, even as the Federal Reserve has cranked up its benchmark borrowing rate six times in its effort to cool the economy and tame inflation.
