Unemployment Claims See Slight Uptick; Labor Market Remains Strong

The US Labor Department reported a modest rise in unemployment benefit applications, increasing by 6,000 to 225,000 for the week ending September 28. The four-week average decreased slightly, reflecting stability. A total of about 1.83 million Americans are collecting benefits, down by 1,000.

The number of Americans applying for unemployment benefits has seen a modest increase, but it still indicates a robust labor market.

The Labor Department, on Thursday, announced that jobless claims rose by 6,000, reaching a total of 225,000 for the latest week ending September 28, slightly surpassing analysts' expectations of 221,000.

Despite this uptick, the four-week average of claims fell by 750, landing at 224,250, a sign of stability in weekly fluctuations. Meanwhile, the report highlighted a decrease by 1,000 in the total number of Americans receiving jobless benefits, bringing the figure to approximately 1.83 million for the week of September 21.

(With inputs from agencies.)