New applications for unemployment benefits edged higher last week, but still hovered near recent lows, indicating the labor market remains solid as the economy shows signs of slowing.
Initial jobless claims, a proxy for layoffs, rose to a seasonally adjusted 235,000 last week from 231,000 the week before, the Labor Department said Thursday. The figure stands just above the 2019 prepandemic weekly average of 218,000, when the labor market was also strong.
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