The number of Americans applying for jobless benefits rose last week but remains historically low as the labor market continues to show strength amid high interest rates and inflation
A hiring sign is displayed at a retail store in Wheeling, Ill., Sunday, Sept. 24, 2023. On Thursday, the Labor Department reports on the number of people who applied for unemployment benefits last week. .
Overall, 1.79 million people were collecting unemployment benefits the week that ended Oct. 14, about 63,000 more than the previous week. In September, employers added 336,000 jobs, raising the average gain for each of the past three months to a robust 266,000. Though the unemployment rate rose from 3.5% to 3.8% last month, that’s mostly due to the fact that about 736,000 people resumed their search for employment. Only people who are actively looking for a job are counted as unemployed.
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