US jobless claims fall to lowest level since February as labor market remains strong

Jobless claims dropped to 216,000 last week, the lowest level since February.
Despite Fed interest rate hikes to cool the job market, it has held up better than expected.
Employers added 187,000 jobs in August and the unemployment rate stayed at 3.8%.
Job openings dropped to 8.8 million in July but remain high compared to pre-2021.
Worker productivity rose at the fastest pace since 2020, while labor cost pressures eased.