US APPLICATIONS FOR JOBLESS BENEFITS INCREASED LAST WEEK

More Americans filed for unemployment benefits last week, the largest number in four months, but the labor market remains strong in the face of persistent inflation and a slowing overall U.S. economy.

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Jobless claims for the week ending Oct. 1 rose by 29,000 to 219,000, the Labor Department reported Thursday. The previous week's number was revised down by 3,000 to 190,000.

The four-week moving average inched up by 250 to 206,500.

The total number of Americans collecting unemployment aid rose by 15,000 to 1.36 million for the week ending Sept. 24.

Applications for jobless aid generally reflect layoffs, which have remained historically low since the initial purge of more than 20 million jobs at the start of the coronavirus pandemic in the spring of 2020.