WASHINGTON– The number of Americans seeking unemployment aid in the United States fell last week to its lowest level in more than a year.
Claims decreased to 187,000 for the week ending Jan. 13, a decrease of 16,000 from the previous week, the Labor Department reported Thursday. That is the lowest amount recorded since September 2022.
The four-week average of claims, which eliminates some of the week-to-week volatility, fell 4,750 to 203,250, the lowest four-week average in almost a year.
Overall, 1.81 million Americans collected unemployment benefits during the week ending Jan. 6, a decrease of 26,000 from the previous week.
Weekly jobless claims are considered a reflection of layoffs in the United States each week. They have remained low despite high interest rates and high inflation.
The Federal Reserve has raised its benchmark interest rates 11 times since March 2022.
Although inflation has decreased in the last year, according to the Joe Biden government, the Department of Labor reported last week that prices in general increased 0.3% compared to November and 3.4% compared to 12 months earlier, a sign that the Fed’s attempt to reduce inflation to its 2% target will continue to be a bumpy road.
Source: With information from AP.
