US initial jobless claims rose by 3,000 in the week ended Sept. 9, to a total of 220,000, the US Department of Labor reported today. The previous week’s level was revised upward by 1,000.
The Associated Press reported that companies continue to retain employees despite the Federal Reserve’s efforts to cool the economy.
Meanwhile, the four-week moving average of initial claims fell by 5,000 to a level of 224,500. The previous week’s average was revised upward by 250.