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Weekly jobless applications fall again despite Fed rate push


AP Business Writer

Fewer Americans filed for jobless benefits last week, more evidence that the Federal Reserve’s efforts to loosen the labor market by raising interest rates hasn’t taken hold. Applications for jobless aid in the U.S. for the week ending Feb. 11 fell by 1,000 last week to 194,000, from 195,000 the previous week, the Labor Department reported Thursday. It’s the fifth straight week claims were under 200,000. Jobless claims generally represent the number of U.S. layoffs. The four-week moving average of claims rose by 500 to 189,500. It’s the fourth straight week that the four-week moving average has been below 200,000.

Article Topic Follows: AP National Business

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