US weekly jobless claims rise slightly; trade deficit narrows sharply

The number of Americans filing new claims for unemployment benefits increased slightly last week, indicating a still-tight labor market at the end of the third quarter. However, layoffs declined in September. The trade deficit in August also shrank to its narrowest in almost three years, with exports of capital goods reaching a record high. The US economy has remained resilient despite interest rate increases, raising the possibility of further rate hikes.