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unemployment rateABC News
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77% Informative
Jobless claims dropped by 7,000 to 227,000 last week , the Labor Department reported.
The four-week average of claims, which smooths out week-to-week ups and downs, fell by 4,500 to 236,500 .
Weekly filings for unemployment benefits, which are a proxy for layoffs, remain low by historic standards.
The Federal Reserve raised its benchmark interest rate 11 times in 2022 and 2023 , taking it to a 23-year high.
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89
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95
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