The Latest Breaking News from Unemployment

U.S. applications for unemployment benefits fell last week to the lowest level in two months, suggesting resilient demand for workers amid a moderation in job gains.

Fewer Americans applied for unemployment benefits last week as the labor market continues to show fortitude in the face of higher interest rates

Slower employment growth, faster population growth and a steady rate of unemployment are the main stories from the Bureau of Statistics’ labour force update, released on Thursday.

The bureau of statistics labour numbers will be examined closely by the Reserve Bank when it meets on August 1 to consider interest rates

Stagflation occurs when economic growth slows and the unemployment rate spikes and can create a challenging environment for investors.

The labour market has proved resilient, with the jobless rate coming in at 3.5 per cent and 33,000 new jobs added to the economy.

New applications for U.S. unemployment insurance benefits fell 12,000 for the week ending July 8 to a seasonally adjusted 237,000. The previous week’s figure was revised up by 1,000 to 249,000. The four-week moving average as of July 8 fell 6,750 from the previous week’s revised average to 246,750.

What if Reserve Bank Governor Philip Lowe and his successor Michele Bullock were able to achieve something truly remarkable – a steady decline in inflation without further interest rate increases, and without bringing on a recession.

Treasurer Jim Chalmers is unable to say if inflation can come back down without a rise in unemployment but declined to comment on the RBA's July rate decision.

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Americans continue to move between states at a rapid pace, seeking out cheaper places to live. Which are the cheapest cities to live in today?