The number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite rising headwinds from the Federal Reserve's stiff interest rate increases and slowing demand.
The weekly unemployment claims report from the Labor Department also showed jobless rolls shrinking to their lowest level in just over two months in mid-September.
That raises the risk that the unemployment rate will drop this month, keeping the Fed on its aggressive monetary policy tightening path.
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