Slightly fewer number of Americans apply for jobless benefits as layoffs remain rare

U.S. applications for unemployment benefits inched up modestly this week after reaching their lowest level in eight months the previous week, as the labor market continues to defy the Federal Reserve’s interest rate hikes meant to cool it. The Labor Department reported Thursday that filings for jobless claims rose by 2,000 to 204,000 for the week ending Sept. 23. Last week’s figure was the lowest since January. Jobless claim applications are seen as representative of the number of layoffs in a given week. The four-week moving average of claims, which quiets some of the week-to-week noise, fell by 6,250 to 211,000.