Initial claims for unemployment benefits in the United States fell to a new low since May last week, indicating a stable job market

The number of initial jobless claims in the United States dropped to the lowest level since May last week, indicating a stable employment market. According to data from the US Department of Labor, as of September 14th, the number of initial jobless claims was 219,000, lower than expected. The number of continued jobless claims also fell to 1.829 million, the lowest in three months. The Federal Reserve cut interest rates by 50 basis points in order to maintain a strong labor market, with economic activity expected to continue to expand steadily. Powell stated that the US economy is in good condition with no signs of a recession