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Initial U.S. jobless claims drop to 232,000, the lowest in two months

The Labor Department said Thursday seasonally adjusted initial jobless claims fell for the week ended Aug. 27 to 232,000. According to BLS there were 11.2 million job openings at the end of July. File Photo by Jim Ruymen/UPI | <a href="/News_Photos/lp/c7f577fc5c35917b04a099793c6530fd/" target="_blank">License Photo</a>
The Labor Department said Thursday seasonally adjusted initial jobless claims fell for the week ended Aug. 27 to 232,000. According to BLS there were 11.2 million job openings at the end of July. File Photo by Jim Ruymen/UPI | License Photo

Sept. 1 (UPI) -- U.S. jobless numbers are the lowest in two months, according to seasonally adjusted results for the week ended Aug. 27, released Thursday by the Department of Labor.

There were 232,000 unemployment claims, the lowest since June 25, according to the Labor Department report. The report said continuing claims rose by 26,000 to a total of 1.44 million.

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The four-week moving average initial jobless claims number was 241,500, down 4,000 from the previous week.

The Bureau of Labor Statistics on Tuesday reported 11.2 million U.S. job openings as of the last business day in July. The numbers show hiring demand remains strong.

In remarks Aug. 26, Fed Chair Jerome Powell indicated efforts to slow inflation could "bring some pain" to households through higher interest rates, a softening labor market and slower growth.

The jobless numbers and the job openings so far show that they have not yet been impacted like that.

Inflation is slowing, according to the Personal Consumption Expenditures index released Aug. 26. That report said inflation stood at 6.3% for the 12-month period ended in July. President Joe Biden said that report shows the American people are starting to get some relief.

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