More Americans apply for jobless benefits but labor market remains tight

Quick Summary

Minutes from the Fed's last meeting showed that Fed officials were split on whether to raise its benchmark borrowing rate.

Early this month, the Fed raised its benchmark lending rate for the 10th time in a row in its bid to cool the economy and bring down four-decade high inflation.

Since the pandemic purge of millions of jobs three years ago, the U.S.economy has added jobs at a breakneck pace and Americans have enjoyed unusual job security.

More Pictures

News Analysis

Category: Nation Politics

Topics: Pandemics Technology Business Inflation Economy Recessions and depressions Business General news Jobs and careers U.S. news

Source Website Secure: Yes (HTTPS)

Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

News Source URL: abcnews.go.com

Readership Location: United States

Published Date: 2023-05-25, 09:05:49

News Timezone: GMT -5:00

Language: English

Original Article Length: 596 words

Reading Duration: 4 minutes read

Compatibility: Desktop Web, Mobile Web, iOS App, Android App

News ID: 1415198

Load More

About Publisher

Name: ABC News

Main Topics: NationPolitics

Official Website: abcnews.com

Last Update: 12h ago

Headquarters: United States

Coverage Areas: United States

Publication Owner: Independent Company

Publication Timezone: GMT -5:00

Languages Covered: English

RSS Feed: Available (XML)

API Available: Yes

Website Security: Secure (HTTPS)

Publisher ID: #86

Load More