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US jobless claims remain at historically low 209K, sign of labor market strength_我的网站

A |     (ECNS) -- China has allocated 180 million yuan (about $26.52 million) in emergency disaster relief funds as heavy rains brought by Typhoon Dolphin triggered flooding in eastern provinces while drought conditions worsened in the northwest.    China's Ministry of Finance and Ministry of Emergency Management allocated 120 million yuan to Jiangsu, Zhejiang, Anhui, Fujian and Jiangxi on Monday to support flood and typhoon response, including evacuations, emergency rescue and repairs to damaged homes.    Another 60 million yuan was allocated to Inner Mongolia, Xinjiang Uygur Autonomous Region, and the Xinjiang Production and Construction Corps to address ongoing drought conditions.    Authorities have been urged to promptly distribute the funds and ensure they are used for disaster relief and affected communities.                                。    WASHINGTON -- The number of Americans applying for unemployment benefits was unchanged last week, remaining at historically low levels in another sign that the U.S. job market remains strong in the face of higher interest rates.Unemployment claims stayed at 209,000 for the week ending Oct. 7, the Labor Department reported Thursday. The four-week moving average of claims, which strips out week-to-week volatility, fell by 3,000 to 206,250.The numbers, a proxy for layoffs, continue to show that American workers enjoy extraordinary job security. When the Federal Reserve began raising its benchmark interest rate last year to rein in surging consumer prices, many economists expected the United States to sink into recession.But the economy and the job market have remained sturdy even as higher rates have brought inflation down steadily from the four-decade highs reached in 2022. The combination of easing inflationary pressures and healthy hiring is raising hopes that the Fed can stick a so-called soft landing — beating inflation without triggering an economic downturn.“Overall, layoffs remain low and demand for workers remains strong,'' said Rubeela Farooqi, chief U.S. economist at High Frequency Economics. ”Even as the Fed has taken aggressive action to soften labor market conditions, businesses are not shedding workers at a rapid pace.''Overall, 1.7 million people were collecting unemployment checks the week that ended Sept. 30, up by 30,000 from the week before.。

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