Unemployed Numbers Stay Below 200,000

Applications for employment continue to be on the rise, and applications for jobless benefits continue to fall in spite of the Federal Reserve’s efforts to slow the economy by raising interest rates.

The number of new applications for unemployment benefits fell last Friday to 194,000, which is slightly less than the previous week’s number which was about an even one thousand more.

This marks the 5th week in a row that there have been fewer than 200 thousand people applying.

Meanwhile, 1.7 million people say they are currently receiving unemployment compensation for the week ending February 4th.

-Tony Lee