US jobless claims remain at historically low 209,000, a sign of continuing labor market strength

Unemployment claims stayed at 209,000 for the week ending Oct. 7, the Labor Department reported Thursday. The four-week moving average of claims, which strips out week-to-week volatility, fell by 3,000 to 206,250.

When the Federal Reserve began raising its benchmark interest rate last year to rein in surging consumer prices, many economists expected the United States to sink into recession. “Overall, layoffs remain low and demand for workers remains strong,'' said Rubeela Farooqi, chief U.S. economist at High Frequency Economics. ”Even as the Fed has taken aggressive action to soften labor market conditions, businesses are not shedding workers at a rapid pace.''

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More Americans support striking auto workers than companies: pollFind Central Pennsylvania business news, blogs, articles and other resources. Get local business listings and events and join forum discussions at PennLive.com.
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More Americans support striking auto workers than car companies, AP-NORC poll showsAs the auto workers strike approaches the one-month mark, more Americans sympathize with the striking workers than with the three big car companies that employ them
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