Unemployment Claims Edge Up Slightly But Job Market Remains Strong Despite Fed Rate Hikes

Unemployment claims rose slightly last week but remain low by historical standards despite Fed interest rate hikes.

Jobless claim applications suggest layoffs remain low even as Fed tries to cool economy and curb inflation.

Number of people collecting unemployment benefits ticked up, indicating some unemployed having harder time finding work.

Job openings, hiring and payrolls all still strong, showing labor market resilience amid Fed tightening.

October jobs report coming Friday after September saw robust hiring, low layoffs and unemployment rate edge up due to more people job searching.