US Economy Shows Resilience with Lower Jobless Claims and Revised GDP Growth

Jobless claims fell slightly last week, indicating a steady labor market, while second-quarter GDP growth was revised higher, driven by consumer spending.

Initial unemployment claims decreased by 2,000 to 231,000 for the week ending August 24.
The second-quarter GDP growth rate was revised up to 3.0%, supported by strong consumer spending.
Corporate profits rebounded, alleviating recession fears and supporting business investments.
The Federal Reserve is expected to begin cutting interest rates next month due to the stable economic outlook.
The unemployment rate remains elevated, partly due to an increase in labor supply from immigration.