US Jobless Claims Tick Up as Trade Deficit Shrinks

Weekly jobless claims in the US rose slightly by 2,000 to 207,000, indicating tight labor market conditions at the end of the third quarter. However, layoffs declined in September. The trade deficit narrowed sharply by 9.9% to $58.3 billion in August, the lowest level in nearly three years, with exports of capital goods reaching a record high. The US economy has shown resilience despite interest rate increases, raising the possibility of further rate hikes by the Federal Reserve.