U.S. applications for unemployment benefits fell to their lowest level in eight months last week as the labor market continues to show strength in the face of elevated interest rates, the Associated Press reports.
U.S. applications for jobless claims fell by 20,000 to 201,000 for the week ending Sept. 16, the Labor Department reported today. That’s the lowest figure since the last week of January. The four-week moving average of claims, a less volatile measure, fell by 7,750 to 217,000.
Jobless claim applications are seen as representative of the number of layoffs in a given week.
Overall, 1.66 million people were collecting unemployment benefits the week that ended Sept. 9, about 21,000 fewer than the previous week.
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