Unemployment claims drop in mid-month numbers

Business

FILE – A Help wanted sign is displayed in Deerfield, Ill., Wednesday, Sept. 21, 2022. The Labor Department reports on Thursday the number of people who applied for unemployment benefits last week. (AP Photo/Nam Y. Huh, File)

(NewsNation) — Approximately 211,000 people filed for unemployment benefits for the week ending Dec. 10, a drop of 20,000 claimants from the week before.

The continued overall decline in unemployment comes despite the Federal Reserve’s rate hikes, which are designed to slow the economy and rein in rampant inflation.

While inflation figures released this week shows the rate of increase has slowed, that hasn’t yet had an effect on the labor market, which continues to be strong.

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