And initial unemployment claims rose by 29,000 last week.
Initial jobless claims, a proxy for layoffs, increased to a seasonally adjusted 219,000 last week from a revised 190,000 the week before, the Labor Department said Thursday.
That was the highest level since late August but close to the 2019 average of 218,000.
Claims have hovered around that prepandemic average for most of this year.
The U.S. jobs market remains strong but has shown some recent signs of softening. Employers pulled back sharply on job openings in August, leaving openings at their lowest level in a year, the Labor Department said on Tuesday.
People with jobs classified as professional and business services also quit in far fewer numbers in August than they had in previous months, the figures showed.
Layoffs rose slightly. Employers added 315,000 jobs that month, compared with 526,000 jobs in July.
I think that the economy is slowing down, and that the Fed may have already over-tightened, but we’ll have more information tomorrow.
Once again, ¯\_(ツ)_/¯.