WASHINGTON (AP) — The number of Americans filing for jobless benefits rose slightly last week despite the Federal Reserve’s year-long battle against inflation that’s intended to cool the economy and the tight labor market.
Applications for unemployment benefits for the week ending Sept. 17 rose by 5,000 to 213,000, the Labor Department reported Thursday.
Last week’s number was revised down by 5,000 to 208,000, the lowest figure since May. First-time applications generally reflect layoffs.
Fed officials have pointed to the remarkably resilient U.S. labor market as added justification for raising rates five times this year, including three 75-basis point hikes in a row.