The number of Americans seeking unemployment benefits last week took a small jump, but remain low, figures released by the U.S. Labor Department revealed.
Labor Department statistics showed that some 242,000 workers filed jobless claims in the week ending April 29. That’s up 13,000 from the previous week. Those statistics come as the Federal Reserve announces yet another quarter-point increase in interest rates.
The four-week moving average of claims, which flattens some of the week-to-week volatility, rose by 3,500 to 239,250, the Associated Press reported.
Overall, 1.81 million people were collecting unemployment benefits the week that ended April 22, about 38,0000 fewer that the previous week.
The Fed on Wednesday raised its benchmark interest rate another quarter point, the 10th time in 14 months the rate has been increased as the Fed continues to battle a stubborn inflation rate.
The unemployment rate came in at 3.5% last month, a tick above January’s half-century low 3.4%. Employers added 236,000 jobs in March.
On Tuesday, the government reported that U.S. job openings fell in March to the lowest level in nearly two years.
Last week, the government reported the U.S. economy slowed in the first quarter, decelerating to just a 1.1% annual pace.
