New U.S. applications for unemployment benefits rose by 1,000 to a seasonally adjusted 199,000 for the week ended Oct. 10, the Labor Department said Thursday.
Economists had expected about 200,000. The four-week average, which smooths week-to-week noise, stayed near historically low levels, a sign that employers are not cutting workers in large numbers even as inflation and energy prices climb.
A stable jobs market has been one of the few bright spots for households facing higher grocery and gasoline bills. Federal Reserve officials are weighing that strength against hotter September inflation when they meet Oct. 27-28.
Sources: Reuters via Devdiscourse, AP News. Thee Arizona Times uses AI-assisted reporting reviewed against the sources listed.
Photo: US Government / Public domain via Wikimedia Commons.
