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US jobless claims remain at historically low 209,000, a sign of continuing labor market strength
The number of Americans applying for unemployment benefits was unchanged last week, remaining at historically low levels in another sign that the U.S. job market remains strong in the face of higher interest rates
WASHINGTON (AP) — The number of Americans applying for unemployment benefits was unchanged last week, remaining at historically low levels in another sign that the U.S. job market remains strong in the face of higher interest rates.
Unemployment claims stayed at 209,000 for the week ending Oct. 7, the Labor Department reported Thursday. The four-week moving average of claims, which strips out week-to-week volatility, fell by 3,000 to 206,250.
The numbers, a proxy for layoffs, continue to show that American workers enjoy extraordinary job security.
When the Federal Reserve began raising its benchmark interest rate last year to rein in surging consumer prices, many economists expected the United States to sink into recession.