Washington (AP) — The number of Americans applying for unemployment benefits fell again last week to a four-month low even as the Federal Reserve continues its aggressive interest rate cuts to bring inflation under control.
Applications for jobless aid for the week ending Sept. 10 fell by 5,000 to 213,000, the Labor Department reported Thursday. That’s the fewest since late May. First-time applications generally reflect layoffs.
The four-week average for claims, which offsets some of the weekly volatility, fell by 8,000 to 224,000.
Hiring in the U.S. in 2022 has been remarkably strong even in the midst of rising interest rates and weak economic growth.
