Jobless claim applications rose by 10,000 to 210,000 for the week ending Oct. 21, the Labor Department reported Thursday.
Overall, 1.79 million people were collecting unemployment benefits the week that ended Oct. 14, about 63,000 more than the previous week.
The central bank’s goal is to cool the economy and labor market and bring down rising wages, which it says feeds inflation.
However, the labor market and the broader economy have held up better than expected.
Though the unemployment rate rose from 3.5% to 3.8% last month, that’s mostly due to the fact that about 736,000 people resumed their search for employment.
Organizations:
Labor Department, Federal Reserve