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.
Applications for jobless aid for the week ending July 30 rose by 6,000 to 260,000 from the previous week’s 254,000, the Labor Department reported Thursday. First-time applications generally reflect layoffs.
The total number of Americans collecting jobless benefits for the week ending July 23 rose by 48,000 from the previous week, to 1,416,000. That figure has been near 50-year lows for months.as the economy contends with persistently high inflation and rising interest rates.Job openings fell to a still-high 10.7 million in June from 11.3 million in May.
Higher rates have already sent home sales tumbling, made the prospect of buying a new car more burdensome and pushed credit card rates up.
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