A hiring sign is displayed in Arlington Heights, Ill., Monday, Feb. 26, 2024. On Thursday, March 21, 2024, Freddie Mac reports on this week's average U.S. mortgage rates. .
Overall, 1.8 million Americans were collecting unemployment benefits the week that ended March 9, up a modest 4,000 from the week before. The economy and the job market, supported by consumer spending, have proven resilient even though the Federal Reserve raised interest rates 11 times in 2022 and 2023 in an effort to combat inflation that flared up in 2021. Inflation has come down from a four-decade high 9.1% in June 2022 to 3.2% in February — but remains above the central bank's 2% target.
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