Job market: US initial jobless claims are rising

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    In America, the number of jobless claims rises to 229,000 in one week. Despite the increase of 27,000 applications, the level is still low.

    In the US, initial jobless claims rose more than expected last week. The Ministry of Labor said the number had increased by 27,000 to 229,000.

    It’s the first rise after two straight falls. Experts had expected an average of 206,000 applications.

    Despite the increase, the labor market is robust

    Despite the surge, the level of aid requests remains at a low level, indicating a resilient labor market. The weekly initial applications are considered a short-term indicator for the development of the labor market.

    The Fed also takes the situation on the job market into account in its monetary policy. In view of the robust development and the comparatively high inflation, the Fed has already raised its key interest rate several times this year and recently increased the pace. She has also announced further increases in the course of the year.