Fewer Americans apply for jobless benefits last week

By MATT OTT
AP Business Writer

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week, a sign that the labor market remains strong even as the Federal Reserve continues to raise interest rates in an effort to cool the economy and slow inflation. Applications for jobless claims fell to 211,000 for the week ending Dec. 10, down by 20,000 from the previous week’s 231,000, the Labor Department reported Thursday. Jobless claims are seen as a proxy for layoffs. The four-week moving average of claims, which evens out some of the week-to-week volatility, fell by 3,000 to 227,250.