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Weekly US jobless claims fall to 189,000, lowest in more than 5 decades
The four-week average also eased to 207,500, while claims came in below economists’ expectations, the Labor Department said.
- On Thursday, the Labor Department reported that U.S. jobless aid applications fell by 26,000 to 189,000 for the week ending April 25, marking the lowest level in more than 50 years despite economic headwinds from the war in Iran.
- The American labor market appears stuck in a "low-hire, low-fire" state as companies remain reluctant to hire due to artificial intelligence investment, keeping jobless applications stabilized between 200,000 and 250,000.
- An inflation gauge monitored by the Federal Reserve rose 0.7% in March, the latest sign that the war in Iran is driving the cost of living higher, while AAA says national gas prices hit $4.30 a gallon on Thursday.
- Citing economic uncertainty caused by Middle East instability and persistent inflation, the Federal Reserve opted to leave its benchmark rate unchanged on Wednesday, even as government data shows the economy expanded at a modest 2% pace.
- High Frequency Economics Chief Economist Carl Weinberg wrote in a note that while current reports show no cause for alarm, elevated energy costs and material prices may eventually force firms to lay off marginal workers to protect profit margins.
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Weekly U.S. jobless claims fall to 189,000, lowest in more than five decades
The number of Americans filing for unemployment benefits tumbled to their lowest level more than 50 years last week despite a number of economic headwinds including the war in Iran.
·Washington, United States
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Total News Sources34
Leaning Left9Leaning Right5Center13Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 33%
C 48%
R 19%
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