SummarySummary Companies Weekly jobless claims increase 4,000 to 230,000Continuing claims rise 62,000 to 1.671 millionWASHINGTON, Dec 8 (Reuters) - The number of Americans filing new claims for jobless benefits increased moderately last week, while unemployment rolls hit a 10-month high towards the end of November, suggesting the labor market was gradually slowing down.
Still, labor market conditions remain tight, keeping the Federal Reserve on course to continue increasing interest rates as it fights inflation.
"Overall, the labor market remains tight and demand for workers is strong," said Rubeela Farooqi, chief U.S. economist at High Frequency Economics in White Plains, New York.
Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 230,000 for the week ended Dec. 3.
The unemployment rate for people on jobless benefits increased to 1.2%, the highest since March, from 1.1% in the prior week.