Unemployment claims drop as Fed hikes interest rates


Unemployment claims drop as Fed hikes interest rates – Reuters

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The Labor Department reported a drop in unemployment insurance claims for the week ending Oct. 29. This comes as the Federal Reserve raised interest rates this week in a bid to rein in rising inflation. Nick Bunker, director of economic research for Indeed Hiring Lab, joined CBS News to help clarify the state of the economy and project what might be next.

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