US Jobless Claims Drop to Four-Month Low

The decline in unemployment benefits applications suggests a resilient labor market despite high interest rates.

Initial jobless claims fell by 12,000 to 219,000 for the week ending September 14, the lowest level since mid-May.
The Federal Reserve cut interest rates by 50 basis points, shifting focus from inflation control to supporting the job market.
Economists had forecasted 230,000 new claims, but the actual number was significantly lower, indicating unexpected labor market strength.
The number of continuing claims for unemployment benefits dropped by 14,000 to 1.83 million, the lowest since early June.
Despite a slowdown in job creation and a decrease in job openings, layoffs remain low, helping to sustain economic growth.