Weekly applications for US jobless benefits fall to the lowest level in 4 months

Published On Sep 19, 2024, 8:40 AM

The number of Americans filing for unemployment benefits dropped to the lowest level in four months, with a decrease of 12,000 claims to 219,000 for the week ending September 14. This is below economists' expectations of 230,000 new filings. Despite a moderate rise in claims over the past months, the current levels indicate a relatively healthy job market. Additionally, the Federal Reserve cut interest rates to support employment in light of softening economic data and a stabilizing inflation rate, suggesting a shift from addressing inflation to fostering job growth.