Lates News

According to data from the US Department of Labor, the number of initial unemployment claims in the US increased by 16,000 to 219,000 people for the week ending April 4. Economists had previously expected it to be 210,000. The low number of layoffs provides support to the labor market, and there are currently no signs that employers are laying off workers due to the oil price impact caused by the US-Iran conflict. The labor market is in a state that economists call "low hiring, low firing," which they attribute to the uncertainty brought by Trump's import tariffs and mass deportations. Although non-farm employment rebounded by 178,000 in March, the average duration of unemployment for the unemployed reached 11.4 weeks, the longest level in nearly four and a half years. The number of continued unemployment claims dropped to 1.794 million, but this may be because most people have exhausted their unemployment benefits, as many states limit it to 26 weeks.