Unemployment Claims Reach Two-Year High Amid Slowing Hiring
Federal Reserve's measures to control inflation show signs of impact as inflation cools down.
- Applications for unemployment benefits rose by 7,000 to 218,000 for the week ending Nov. 25.
- 1.93 million people were collecting unemployment benefits the week that ended Nov. 18, about 86,000 more than the previous week and the most in two years.
- Hiring has slowed from the breakneck pace of 2021 and 2022 when the economy rebounded from the COVID-19 recession.
- The Federal Reserve has raised its benchmark interest rate 11 times since March 2022 to slow the economy and rein in inflation.
- The Commerce Department reported that the Federal Reserve's preferred inflation measure cooled last month.
Boston Globe 
Washington Post 
Associated Press 
