U.S. jobless claims fell to 218,000 last week, the lowest in two months and well below forecasts, showing layoffs remain low. But other data paints a weaker picture: August saw just 22,000 new jobs, job openings hit their lowest since 2021, and revisions show nearly 1M fewer jobs were added in the past year than first reported. The Fed, worried about slowing hiring, cut rates last week to boost growth — though inflation remains above target.