Jobless claims hit a four-week low, signaling a robust labor market.
The labor market continues to tighten, as fewer people applied for unemployment benefits than expected last week—suggesting fewer Americans are losing their jobs.
Initial applications for the benefits, used by economists as a barometer for the health of the labor market in the U.S., came in at 212,000 for the week ending February 10, below the expected 219,000 and marking a four-week low.
The enduring labor market strength unfolds as the Federal Reserve continues its efforts to moderate the economy’s pace and cool down the job sector through its interest rate hike campaign.
With employers hesitant to reduce their workforce in the wake of the Fed’s policy rate hikes totaling 5.
