US applications for jobless benefits fall again as labor market continues to thrive

The Labor Department reported that applications for unemployment benefits fell by 19,000 to 202,000. The Federal Reserve kept its key interest rate unchanged and indicated potential rate cuts next year. Despite high interest rates and elevated costs, the job market and economic growth remained resilient. Hiring has slowed from previous years, but employers added a healthy 199,000 jobs last month. The jobless rate has remained below 4% for nearly two years.