US Weekly Jobless Claims Drop to Four-Month Low

Labor Department reports 218,000 new unemployment applications, highlighting economic resilience amid high interest rates.

The number of Americans filing for unemployment benefits fell by 4,000 to 218,000 for the week ending September 21, the lowest since mid-May.
Economists had forecasted 225,000 claims, making the actual figures better than expected.
Despite a weakening job market with declining job openings and reduced hiring, layoffs have remained low.
The Federal Reserve recently cut interest rates by 50 basis points to support the job market, marking the first reduction since 2020.
Corporate profits were revised up significantly for the second quarter, indicating stronger economic activity than initially estimated.