Economy

Weekly Jobless Claims Drop to 4-Month Low as Hiring, Firing Stall

Expected interest rate cuts by the Federal Reserve will ‘fuel a recovery of job growth,’ says Bill Adams, the chief economist for Comerica Bank.
Weekly Jobless Claims Drop to 4-Month Low as Hiring, Firing Stall
People wait in line for a job fair to open in Sunrise, Fla., on June 26, 2024. Joe Raedle/Getty Images
Andrew Moran
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The number of people filing for unemployment benefits last week fell to the lowest level in nearly four months even as the labor market showed other signs of softening.

New data from the Department of Labor show that initial jobless claims declined by 4,000, to 218,000 for the week that ended on Sept. 21. This was below the consensus estimate of 225,000 and the lowest number since the middle of May.
Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."