US Weekly Jobless Claims Edge Up Amid Labor Market Slowdown

Initial unemployment claims rose by 2,000 last week, reflecting a modest increase as businesses scale back hiring due to high interest rates.

The Labor Department reported 230,000 new jobless claims for the week ending September 7, matching economists' forecasts.
The slight rise in claims is linked to the Labor Day holiday, which typically causes volatility in weekly data.
Despite the increase, layoffs remain historically low, with continuing claims at 1.85 million for the week ending August 31.
Nonfarm payrolls grew by 142,000 in August, falling short of expectations but marking an improvement from July's 89,000 increase.
The Federal Reserve is expected to cut interest rates by 25 basis points next week, following a significant slowdown in consumer price inflation.