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U.S. labor market unwavering despite stiff interest rates hikes

Scott
Scott
in World News - Discussion

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WASHINGTON, Nov 3 (Reuters) - The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labor market remains strong despite slowing domestic demand amid stiff interest rate hikes from the Federal Reserve to tame inflation.

The weekly unemployment claims report from the Labor Department on Thursday, the most timely data on the economy's health, followed on the heels of news this week of an unexpected jump in job openings in September. Labor market resilience gives the Fed cover to continue tightening monetary policy, and also keeps the economy growing for now.

https://www.reuters.com/world/us/us-labor-market-unwavering-despite-stiff-interest-rates-hikes-2022-11-03/

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