US weekly jobless claims rise moderately
© Reuters. FILE PHOTO: People line up outside Kentucky Career Center prior to its opening to find assistance with their unemployment claims in Frankfort, Kentucky, U.S. June 18, 2020. REUTERS/Bryan Woolston/File Photo
Though the labor market is gradually cooling, conditions remain tight, highlighting the economy's enduring strength. The government reported on Wednesday that there were 1.5 job openings for every unemployed person in September. Indeed, layoffs remain considerably low. A separate report on Thursday from global outplacement firm Challenger, Gray & Christmas showed U.S.-based employers announced 36,836 job cuts in October, down 22% from September. Planned layoffs were up 9% compared to October last year.
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