Catherwood LibraryILR School

U.S. unemployment benefit claims have risen for the eighth consecutive week, reaching 243,000 in the week ending July 13, indicating a slight but consistent uptick. This trend reflects the Federal Reserve's strategy to cool an overheated labor market by raising interest rates multiple times since March 2022. Despite the rise in jobless claims and continuing claims—now at 1.87 million, the highest since November 2021—the labor market remains robust. Job additions and strong consumer demand continue to prevent a recession, aligning with the Fed's goal of reducing inflation without triggering significant economic downturns.