The number of jobless claims in the US declined at the beginning of last week. Previously, during the spring holidays and the Easter holidays at the end of April, there was a short-term surge in the number of first-time applicants. The number of initial jobless claims fell by 13,000 to 228,000 for the week ending May 3. This is roughly in line with economists' median predictions. The number of renewed jobless claims also fell to 1.88 million last week. This shows that despite the ripple effects of tariffs and the Trump administration's actions to reduce the federal government, increasing economic uncertainty, the level of layoffs is still low. Federal Reserve Chairman Powell said on Wednesday that although tariffs may lead to higher unemployment and inflation, the labor market remains stable. “People are stressed and worried. But the unemployment rate has not risen, job creation is good, and wages are good.” “The number of initial jobless claims has not increased in any surprising way. As a result, the economy itself is still in a solid state,” Powell said.

The number of jobless claims in the US declined at the beginning of last week. Previously, during the spring holidays and the Easter holidays at the end of April, there was a short-term surge in the number of first-time applicants. The number of initial jobless claims fell by 13,000 to 228,000 for the week ending May 3. This is roughly in line with economists' median predictions. The number of renewed jobless claims also fell to 1.88 million last week. This shows that despite the ripple effects of tariffs and the Trump administration's actions to reduce the federal government, increasing economic uncertainty, the level of layoffs is still low. Federal Reserve Chairman Powell said on Wednesday that although tariffs may lead to higher unemployment and inflation, the labor market remains stable. “People are stressed and worried. But the unemployment rate has not risen, job creation is good, and wages are good.” “The number of initial jobless claims has not increased in any surprising way. As a result, the economy itself is still in a solid state,” Powell said.