U.S. initial unemployment claims lower for a fifth straight week
The numbers: The labor market is still hot as layoffs continue to fall in the latest week, despite fears of a slowdown in the U.S. economy.
This is the fifth week in a row that jobless claims fell. Jobless claims are at the lowest level in 15 weeks. Layoffs are near record lows. But as the Federal Reserve mulls further rate hikes to address inflation, any major increase in rates could slow down the economy and hence the job market in the coming months.
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