US applications for jobless claims rise in a labor market that remains very healthy

More Americans filed for jobless claims last week, and while the labor market remains broadly healthy, there have been recent signs that it may finally be cooling

More Americans filed for jobless claims last week and while the labor market remains broadly healthy, there are growing signs that it may finally be cooling.

Applications for unemployment benefits rose by 13,000 to 231,000 for the week ending Nov. 11, the Labor Department reported Thursday. That's the most in three months.

Jobless claim applications are seen as representative of the number of layoffs in a given week.

The Federal Reserve has been tapping the brakes on the economy and the labor market for nearly two years, trying to stem what was the highest inflation in four decades. The central bank raised its benchmark rate 11 times since March of 2022 as part of that effort.

Yet for months it seemed as though the aggressive actions from the Fed had little impact and companies have been forced to pay more to land employees.