US unemployment benefit applications decline to 218,000 in September, the lowest in four months.

The U.S. Department of Labor reported a decline in unemployment benefit applications to 218,000 for the week ending September 21, the lowest in four months and below analyst expectations of 224,000. The four-week average also fell to 224,750. The Federal Reserve has cut its benchmark interest rate by half a percentage point to support the job market, aiming for a "soft landing" to manage inflation without triggering a recession.