According to a report from Jin Ten Data on May 8, the number of initial jobless claims in the United States fell more than expected last week, indicating that the labor market remains stable, although risks from tariffs are increasing. The U.S. Department of Labor announced that for the week ending May 3, the number of initial jobless claims decreased by 13,000 to 228,000, seasonally adjusted, while the market expectation was 230,000.
This decline has somewhat offset the impact of New York State's spring break, which caused the number of people applying for unemployment benefits to reach a two-month high. However, economists say that the weak impact of business and consumer surveys on initial jobless claims, inflation, and employment reports—so-called hard data—is just a matter of time. On Wednesday, the Federal Reserve kept interest rates in the range of 4.25%-4.50%, with policymakers noting that the risks of rising unemployment and inflation have increased.