Summary
Applications for jobless aid in the U.S. decreased significantly after hitting a near four-year high the previous week, according to the latest figures from the Labor Department. The Federal Reserve responded to recent labor market concerns by reducing its key interest rate, aiming to support economic growth and hiring. Job gains have shown slower growth, with revised figures indicating fewer jobs added than previously reported.
Key Facts
- U.S. jobless aid applications fell by 33,000 to 231,000 for the week ending September 13.
- The drop followed a previous surge to 264,000, the highest since October 2021.
- The Federal Reserve cut its key interest rate by a quarter-point, shifting focus from inflation to support jobs.
- Revised labor data showed 911,000 fewer jobs added between March 2024 and March 2025 than initially reported.
- U.S. job gains were weak, with just 22,000 new jobs in August, below the expected 80,000.
- Unemployment benefit claims have mostly remained low since the COVID-19 pandemic.
- The reduction in job gains came amid uncertainty from tariffs and economic policies.
