Unemployment claims edged up to 197,000 last week—slightly higher than expected, but still historically low, like a tiny ripple in a calm lake. Amid rising oil prices, gas over $4/gallon, stubborn inflation, and slower economic growth, companies like Verizon, UPS, and Amazon are cutting jobs—hard on workers, but the broader job market remains surprisingly resilient. The Fed’s eye is on inflation and may raise rates if needed, potentially cooling hiring. Meanwhile, the four-week average of claims dipped, suggesting this bump might just be a blip.
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