Lower interest rates can boost the economy and hiring, but also tend to fuel inflation.
The total number of Americans collecting jobless benefits rose by 9,000 to about 1.87 million for the week of Oct. 5.
The number of Americans applying for unemployment benefits last week fell to the lowest level in four months.
The number of Americans applying for unemployment benefits fell to their lowest level in four months last week.
During the first four months of 2024, claims averaged a just 213,000 a week, but they started rising in May.
Weekly filings for unemployment benefits, which are considered a proxy for layoffs, remain low by historic standards.
For the week ending Aug. 10, 1.86 million Americans were collecting jobless benefits, 4,000 more than the week before.
The four-week average for continuing claims rose to 1,857,000, the most since December of 2021.
U.S. Filings for Jobless Claims Inch Up Modestly, But Continuing Claims Rise for Ninth Straight Week
Analysts say that continuing claims rise because many of those who are already unemployed may now be having a harder time finding new work.
Weekly unemployment claims - a proxy for layoffs - remain at low levels by historical standards.