US jobless claims rose slightly to 217,000 for the week ending Oct. 28, but overall remain at historically healthy levels.
Why it matters
The low number of jobless claims indicates a strong labor market and resilience in the face of interest rate hikes and inflation concerns.
What the papers say
AP News says that jobless claims remain low despite interest rate hikes, while the New York Times reports that job openings have changed little in September. The NY Post highlights that employers posted 9.6 million job openings in September, indicating a strong job market. The Washington Post also mentions the high number of job openings and the Federal Reserve's desire to cool the job market to prevent inflation.
How we got here
The labor market in the US has shown strength despite concerns about inflation and interest rate hikes by the Federal Reserve.
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