Slight uptick in weekly US jobless benefit applications

The number of Americans applying for jobless benefits increased slightly last week, rising by 10,000 to 210,000, but still remains historically low. The labor market continues to show strength despite high interest rates and inflation. The Federal Reserve has raised its benchmark interest rate multiple times this year in an effort to cool the economy and labor market, but the overall economy and job market have performed better than expected. In September, employers added 336,000 jobs, and job openings in August exceeded economists' expectations. The Fed is expected to keep interest rates unchanged at its upcoming meeting as it aims for a "soft landing" to bring down inflation without causing a recession.