U.S. applications for unemployment benefits rose slightly after five consecutive weeks of decline as many employers continue to hold on to workers despite a slowing economy
Many employers continue to hold on to workers in a tight labor market, though some companies have started cutting staff
The Federal Reserve approved a third-consecutive 0.75 percentage point rise Wednesday. Chairman Jerome Powell said he anticipates that interest-rate increases will continue as the Fed fights high inflation. Photo: Kevin Lamarque/Reuters., a proxy for layoffs, increased to a seasonally adjusted 213,000 last week from a revised 208,000 the previous week, the Labor Department said Thursday.
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