The number of Americans applying for unemployment benefits declined last week as the labor market shows resilience despite higher interest ratesByMatt Ott AP Business WriterJan 4, 2024, 8:42 am ET• read 2 minutesThe number of Americans filing for unemployment benefits declined last week as the labor market continues to show resilience despite higher interest rates. The Labor Department reported Thursday that unemployment claims fell to 202,000 for the week ending Dec. 30, down 18,000 from the previous week. Despite high interest rates they remain at exceptionally low levels. When the Fed began raising rates, it was widely predicted that the US economy would fall into recession. The number of job openings has declined, but remains at historically healthy levels.

Source: ABC News January 04, 2024 21:13 UTC