Requests for unemployment aid fall slightly in the US

Washington (HPD) – Applications for unemployment public assistance decreased slightly last week in the United States, an indication that the labor market continues solid despite inflation and increases in interest rates.

Applications for the week concluded on October 29 descended in 1,000 to be located in 217,000, the Labor Department reported Thursday. The four-week average decreased by 500 to settle at 218,750.

Considered a dismissal indicator, applications for unemployment help have been historically low this year, even despite the fact that the Federal Reserve has increased its reference interest rate six times this year in its attempt to cool the economy and stop inflation

The Fed raised its short -term loan rate on Wednesday in another 0.75 percentage points, three times its usual margin, for the fourth time this year. Its key rate is now in a range of 3.75% to 4%, the highest in 15 years.

These increases are recorded while consumer prices were firmly high in 6.2% compared to September last year, just like the previous month. The main inflation, which excludes volatile food and energy prices in order to clarify the trend, accelerated to 5% from August 4.9%.

All attention will now focus on the October job report that the Labor Department will announce on Friday, the last look at the state of the economy before the intermediate elections. In September, American employers reduced hiring but still added 263,000 new jobs and the unemployment rate fell from 3.7% to 3.5%, matching a minimum of half a century. Fed officials have pointed out that the unemployment rate needs to be at least 4% to slow inflation.

This week, the Department of Labor indicated that American employers had the surprising figure of 10.7 million vacancies in September, compared to 10.3 million in August.

The total number of Americans who charge unemployment aid increased by 47,000 to 1.49 million in the week completed on October 22, the highest in seven months, but it is not yet a worrying level.

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