Initial jobless claims for week ending Sept 14 fell to 219,000, the lowest since May, as Fed cut interest rates by 0.5%.
For the week ending September 14, initial jobless claims in the U.S. fell by 12,000 to 219,000, the lowest since May, indicating a resilient job market despite slower hiring. Continuing claims also decreased, reflecting stable employment conditions. In response to declining employment data, the Federal Reserve cut interest rates by half a percentage point, aiming to support the job market while managing inflation and avoiding recession.
September 19, 2024
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