The latest report from the Labor Department shows a decrease in the number of Americans filing for unemployment benefits, indicating a resilient job market despite high interest rates. Jobless claims dropped by 7,000 to 227,000 last week, with the four-week average falling by 4,500 to 236,500.
In the week ending August 3, 1.86 million Americans were receiving jobless benefits, down by 7,000 from the previous week. While weekly filings for unemployment benefits have been low historically, averaging 213,000 a week from January to May, they started to rise in May, reaching 250,000 in late July.
