{"id":2024426,"date":"2023-09-07T10:20:02","date_gmt":"2023-09-07T14:20:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-applications-for-unemployment-benefits-fall-to-lowest-level-in-7-months\/"},"modified":"2023-09-07T10:21:29","modified_gmt":"2023-09-07T14:21:29","slug":"us-applications-for-unemployment-benefits-fall-to-lowest-level-in-7-months","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-applications-for-unemployment-benefits-fall-to-lowest-level-in-7-months\/","title":{"rendered":"US jobless claims hit 7-month low."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fus-applications-for-unemployment-benefits-fall-to-lowest-level-in-7-months%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2024426&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>The \u2062Labor Market \u2064Shows Resilience as Unemployment Claims \u2062Reach\u2064 Lowest Level in \u200cSeven Months<\/h2>\n<p>The number of Americans applying for unemployment benefits last week fell to the lowest level\u2063 in seven months with the labor market seemingly resistant to the\u2064 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/existing-home-sales-plummet-to-lowest-level-since-2020\/\" title=\"Existing Home Sales Plummet to Lowest Level Since 2020\">higher interest rates put<\/a> \u2064in \u2063place to cool hiring.<\/p>\n<p>U.S. applications for jobless claims\u200c fell by\u200c 13,000 to 216,000 for the week ending Sept. 2, the Labor Department reported Thursday. That&#8217;s the lowest level since February.<\/p>\n<p>Jobless claim applications are seen as representative of the number of layoffs in a given week.<\/p>\n<blockquote>\n<h3>Related\u200b Stories<\/h3>\n<ul>\n<li><a href=\"http:\/\/www.theepochtimes.com\/article\/wall-street-opens-lower-on-renewed-inflation-worries-economic-data-5487058\">Wall \u2064Street Opens Lower on Renewed Inflation Worries, Economic Data<\/a> \u2064 &#8211; 9\/6\/2023<\/li>\n<li><a href=\"http:\/\/www.theepochtimes.com\/world\/hunt-we-may-see-inflation-blip-in-september-5485668\">Hunt: We May \u2064See \u2062Inflation Blip in September<\/a> -\u200c 9\/3\/2023<\/li>\n<\/ul>\n<\/blockquote>\n<p>The Federal\u200c Reserve,\u2063 well into the second year of its battle against inflation, \u2063has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-10-year-treasury-yield-surges-to-highest-level-since-2007-after-fed-minutes\/\" title=\"US 10-Year Treasury Yield Soars to Pre-2007 Highs Post Fed Minutes\">raised interest rates 11 times<\/a> to 5.4 percent, the highest \u200blevel in 22 years.<\/p>\n<p>The Fed\u2019s rate hikes are intended to\u2062 cool the job market\u200c and bring down \u2063wages, which many\u2063 economists believe suppresses price growth. Though some measures of inflation have come down \u200dsignificantly\u2014from as much as 9 \u200cpercent down closer to 3 \u200dpercent\u2014since the Fed starting raising interest rates, the\u200c job market has held up better than many expected.<\/p>\n<p>Last week, the government reported that U.S. employers added 187,000 jobs in August, \u2062another sign of a healthy labor market. The unemployment rate ticked up to 3.8 percent, still low by historical measures.<\/p>\n<p>The U.S.\u2062 economy has been adding an average of about 236,000\u200b jobs per month this year, down from the pandemic surge of \u2064the previous two years, but still a strong number.<\/p>\n<p>Recent government\u200b data also showed\u2064 that job openings \u2064dropped to 8.8 million in July,\u200c the fewest since March 2021 and down from 9.2 million in June. However, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-applications-for-unemployment-benefits-fall-to-lowest-level-in-7-months\/\" title=\"US jobless claims hit 7-month low.\">numbers remain\u200d unusually robust<\/a> considering monthly job openings never topped 8 million before 2021.<\/p>\n<p>Besides some layoffs in the technology\u2062 sector \u2063early this year, companies \u2064have\u2064 mostly been \u200ctrying to retain workers.<\/p>\n<p>Many\u200d businesses struggled to\u2064 replenish\u200d their workforces \u200dafter cutting jobs during the pandemic, \u2063and a sizable \u2064amount of the \u2063ongoing hiring \u200blikely reflects efforts by firms to catch up to elevated levels of consumer demand that emerged since \u2064the pandemic recession.<\/p>\n<p>While the manufacturing, warehousing, and retail industries\u2062 have slowed their hiring in \u200drecent months, \u200bthey aren\u2019t yet cutting jobs in large numbers.<\/p>\n<p>Overall, 1.68 \u2062million\u200d people were collecting \u200cunemployment benefits the week that \u200cended August 26, about 40,000 fewer \u2064than the previous \u200bweek.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last week, the number of Americans seeking unemployment benefits dropped to a seven-month low, indicating that the labor market remains strong despite the implementation of higher interest rates aimed at slowing down hiring. The Labor Department reported a decrease of 13,000 jobless claims, bringing the total to 216,000 for the week ending Sept. 2.<\/p>\n","protected":false},"author":136,"featured_media":2024427,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2024426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2024426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/136"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2024426"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2024426\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2024427"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2024426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2024426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2024426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}