The number of Americans applying for unemployment benefits last week fell to the lowest level in seven months with the labor market seemingly resistant to the higher interest rates put in place to cool hiring.

U.S. applications for jobless claims fell by 13,000 to 216,000 for the week ending Sept. 2, the Labor Department reported Thursday. That’s the lowest level since February.

The Federal Reserve, well into the second year of its battle against inflation, has raised interest rates 11 times to 5.4%, the highest level in 22 years.

Last week, the government reported that U.S. employers added 187,000 jobs in August, another sign of a healthy labor market. The unemployment rate ticked up to 3.8%, still low by historical measures.

Overall, 1.68 million people were collecting unemployment benefits the week that ended August 26, about 40,000 fewer than the previous week. That number hasn’t been lower since a stretch in early January.

General Motors made its first wage-and-benefit offer to the United Auto Workers that falls far short of the union’s initial demands.

The offer Thursday comes just a week before the UAW’s national contracts with GM, Stellantis and Ford are set to expire.

UAW President Shawn Fain called the offer insulting, but it’s a sign of movement on economic issues. The union is threatening to strike any automaker that hasn’t reached an agreement by the time contracts expire at 11:59 p.m. on Sept. 14.

GM says it’s offering a 10% wage increase during a new four-year contract, plus two more 3% one-time payments. It’s also offering a $6,000 inflation payment, $5,000 more in lump sums over the life of the contract, and a $5,000 contract ratification bonus.