Unemployment claims in the U.S. fell by 7,000 last week, indicating a resilient job market despite high interest rates. The four-week average of claims also dropped, while the number of Americans receiving jobless benefits decreased slightly. Although claims have been rising since May, recent declines suggest that the job market is slowing rather than deteriorating. The Federal Reserve's interest rate hikes, aimed at combating inflation, have impacted the economy, but the labor market remains strong. However, job growth slowed in July, and the unemployment rate rose to 4.3%.