BlockBeats news, on May 8, the number of people applying for unemployment benefits in the U.S. last week decreased more than expected, indicating that the labor market remains stable, despite the increasing risks posed by tariffs. The U.S. Department of Labor reported that for the week ending May 3, the number of initial unemployment claims decreased by 13,000, to 228,000, which was lower than the market expectation of 230,000.
This decline 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 stated that the weakness in business and consumer surveys affecting initial unemployment 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.' (Jin Shi)