The Latest Breaking News from Labor Department

Unemployment claims remain close to the highest level since last November, the Labor Department said.

The number of Americans who signed up for unemployment benefits rose last week to the highest level since November, though the U.S. job market continues to show signs of strength

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Falling gasoline prices put a dent in the July inflation rate, which fell to 8.5% from 9.1% in June. But other costs such as housing continue to climb, putting a strain on many family budgets.

The SPDR S&P 500 ETF Trust (NYSE: SPY) traded lower by 0.8% Friday morning after the Labor Department reported encouraging U.S. jobs market numbers from July.

U.S. employers added 528,000 jobs in July, showing the labor market remains strong, despite high inflation and softening economic growth. The unemployment rate fell to 3.5%.

The American job market has defied raging inflation, rising interest rates, growing recession fears

Unemployment claims have been on the rise the last few months, perhaps signaling a slowing labour market.

More Americans applied for jobless benefits last week as the number of unemployed continues to rise modestly, though the labor market remains one of the strongest parts of the U.S. economy

Asian stock markets are mostly higher as traders watch for signs trade might be disrupted by U.S.-Chinese tensions over an American lawmaker’s visit to Taiwan

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