WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell sharply last week, a sign that U.S. job market remains resilient despite higher interest rates.
The Labor Department reported Wednesday that jobless claims dropped by 24,000 to 209,000.
The four-week moving average of claims, which smooths out week-to-week volatility, fell by 750 to 220,000.
Overall, 1.84 million Americans were receiving unemployment benefits the week that ended Nov. 11, down by 22,000 from the week before.
The job market and economic growth remained surprisingly resilient, defying predictions that the economy would slip into a recession this year.
Persons:
—, it's, ″, Rubeela Farooqi
Organizations:
WASHINGTON, Labor Department, Federal, Employers
Locations:
United States