Weekly applications for US jobless benefits rises slightly

The number of Americans applying for jobless benefits rose last week but remains historically low as the labor market continues to show strength amid high interest rates and inflation

Unemployment Benefits (Copyright 2023 The Associated Press. All rights reserved.)

The number of Americans applying for jobless benefits rose last week but remains historically low 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 Thursday. The previous week's applications were the fewest in eight months.

Jobless claim applications are considered a proxy for layoffs.

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.