Applications for jobless aid climbed by 14,000 to 262,000 and now have risen five out of the last six weeks, the Labor Department reported.
Applications for jobless aid climbed by 14,000 to 262,000 and now have risen five out of the last six weeks, the Labor Department reported Thursday.
The number of Americans collecting traditional unemployment benefits increased by 8,000 the week that ended July 30 to 1.43 million, highest since early April. So far this year, hiring in the United States has been remarkably strong and resilient in the face of rising interest rates and weak economic growth.
But the U.S. economy faces challenges. Consumer prices have been surging, rising 8.5% in July from a year earlier — down slightly from June's 40-year high 9.1%. To combat inflation, the Federal Reserve has raised its benchmark short-term interest rate four times this year.
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