US EditionUS weekly jobless claims unchanged amid stable labor market
- On Tuesday, Microsoft initiated its biggest workforce reduction in over two years by cutting approximately 6,000 jobs, which accounts for close to 3% of its employees.
- These layoffs occur as Microsoft invests heavily in artificial intelligence amid broader economic uncertainty and ongoing trade tensions.
- The Labor Department indicated that the number of initial jobless claims held steady at 229,000 during the week that concluded on May 10, suggesting consistent levels of layoffs across the country.
- Federal Reserve Chair Jerome Powell stated that while tariffs have negatively affected how consumers and businesses feel about the economy, current economic indicators have not revealed any major adverse effects so far.
- Despite a slight rise in the number of Americans receiving benefits, the steady claims suggest the U.S. Labor market remains relatively healthy amid trade war concerns.
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US weekly jobless claims unchanged amid stable labor market
The number of Americans filing new applications for unemployment benefits was unchanged last week, but job opportunities are becoming more scarce for those out of work as economic uncertainty from tariffs discourages businesses from boosting hiring.
·United Kingdom
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U.S. applications for jobless benefits hold firm as layoffs remain low despite tariff uncertainty
WASHINGTON — U.S. applications for jobless benefits held steady last week as layoffs remain low despite uncertainty over how President Donald Trump’s tariffs will impact the economy.
·Toledo, United States
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Associated Press News+28 Reposted by 28 other sources
US applications for jobless benefits hold firm as layoffs remain low despite tariff uncertainty
U.S. applications for jobless benefits held steady last week as layoffs remain low despite uncertainty over how President Donald Trump’s tariffs will impact the economy.
·United States
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Total News Sources42
Leaning Left4Leaning Right5Center22Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
13%
C 71%
R 16%
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