On Thursday, the U.S. Department of Labor reported that new unemployment claims totaled 218,000 from September 15 to 21.
This is a decrease of 4,000 from the previous week, marking the lowest count in four months since mid-May when 216,000 claims were filed. The number also came in below the Dow Jones estimate of 223,000.
Continuing claims for unemployment benefits, which tracks those receiving them for at least two weeks, rose to 1.834 million from September 8 to 14, an increase of 13,000 from the previous week.
This data emerges amid heightened debate following the Federal Reserve’s recent rate cut. Wall Street is closely monitoring labor market trends to gauge economic stability.
Meanwhile, the U.S. Department of Commerce announced that the second quarter GDP growth rate stood at 3.0%, unchanged from the earlier projection from a month earlier.
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