The number of Americans applying for jobless benefits rose last week but remains historically low, according to the Associated Press, as the labor market continues to show strength amid high interest rates and inflation.
Jobless claim applications rose by 10,000 to 210,000 for the week ending Oct. 21, the Labor Department reported today. The previous week’s applications were the fewest in eight months. The four-week moving average of claims, which smooths out some of the week-to-week volatility, rose by 1,250 to 207,500.
Overall, 1.79 million people were collecting unemployment benefits the week that ended Oct. 14, about 63,000 more than the previous week.
