[GLOBAL ECONOMIC TIMES]  The number of Americans filing for unemployment benefits decreased last week, indicating a continued strengthening of the labor market. According to the U.S. Labor Department, initial jobless claims totaled 218,000 for the week ending September 21, down 4,000 from the previous week's revised level. This figure also fell below the Dow Jones estimate of 223,000.

Meanwhile, continuing claims, which count the number of people already receiving benefits, increased by 13,000 to 1.834 million for the week ending September 14.

As Wall Street closely monitors the U.S. labor market following the Federal Reserve's recent decision to cut interest rates by 50 basis points, these latest figures provide additional insights into the state of the economy.

Earlier this month, the Fed implemented a significant interest rate cut, citing factors such as the labor market. August data showed a slower-than-expected pace of job growth, with nonfarm payrolls increasing by 142,000, below the consensus forecast of 161,000. The unemployment rate edged down to 4.2% from 4.3% in July.

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