Fewer Americans applied for unemployment benefits last week as the U.S. job market remains strong in the face of rising inflation and interest rates.

Applications for jobless aid fell by 3,000 to 229,000 for the week ending June 11, down from the previous week’s 232,000, the Labor Department reported Thursday. First-time applications generally represent the number of layoffs.

The four-week average for claims, which evens out some of the week-to-week volatility, rose by 2,750 from the previous week, to 218,500.

The total number of Americans collecting jobless benefits for the week ending June 4 was 1,312,000. That figure has hovered near 50-year lows for months.

The Labor Department reported last week that consumer prices surged 8.6% last month — even more than in April — from a year earlier. The Federal Reserve responded by raising its main borrowing rate by three-quarters of a point on Wednesday, its main tool for fighting rising prices. Wednesday’s increase is on top of a half-point increase in early May.

Beauty giant Revlon files bankruptcy

Revlon, a cosmetics maker that broke racial barriers and dictated beauty trends for much of the last century, has filed for Chapter 11 bankruptcy protection.

The company has been a mainstay on store shelves since its founding 90 years ago in New York City as it oversaw a stable of household names, from Almay to Elizabeth Arden.

Revlon failed to keep pace with changing tastes, however, slow to follow women as they traded flashy red lipstick for more muted tones in the 1990s.

In addition to losing market share to big rivals like Procter & Gamble, newcomer cosmetic lines from Kylie Jenner and other celebrities successfully capitalized on the massive social media following of the famous faces that fronted the products.