The number of Americans filing new claims for unemployment benefits increased slightly last week, indicating continued tight labor market conditions at the end of the third quarter 

The trade deficit in the U.S. shrank to its lowest level in almost three years in August, with capital goods exports reaching a record high 

Despite significant interest rate hikes by the Federal Reserve to curb demand, the U.S. economy has remained resilient, raising the possibility of further rate hikes by the central bank 

Economists had predicted 210,000 initial claims for state unemployment benefits for the last week of September, but the actual number was 207,000 

Employers are hesitant to lay off workers due to labor shortages caused by the aftermath of the COVID-19 pandemic 

Unadjusted jobless claims decreased to 172,775, but some states, like Ohio, experienced decreases while California saw an increase 

The ongoing United Auto Workers (UAW) strike is impacting supply chains and forcing temporary layoffs at companies like Ford, General Motors, and Stellantis 

While the labor market remains tight, there are signs of cooling as job openings exceed the number of unemployed individuals 

U.S. companies announced fewer job cuts in September compared to August, but layoffs were higher compared to the same period in the previous year 

The strength of the labor market suggests that the Federal Reserve may maintain higher interest rates for an extended period, despite some economists believing they have completed their rate hikes