US Jobless Claims Rise Amid High Services Inflation
Jobless claims rose slightly last week while services input prices hit a three-year high. The data points to a stable labor market and persistent inflation pressures.
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Initial claims for state unemployment benefits in the United States rose 2,000 to a seasonally adjusted 206,000 for the week ended August 29, the Labor Department said. The steady labor market gives the Federal Reserve room to focus on rising inflation pressures. Economists expect the central bank to raise interest rates by year end.
