🚨Breaking: U.S. Unemployment Claims Release Diverges from Expectations

The number of Americans filing for new unemployment benefits fell more than expected last week, indicating that the labor market continues to perform strongly, despite rising risks from tariffs.

✨The U.S. Department of Labor reported on Thursday that initial claims for state unemployment benefits decreased by 13,000 to a seasonally adjusted 228,000 for the week ending May 3. Economists had forecast 230,000 claims for the latest week.

✨This decline offset some of the increase in claims during the spring school holiday in New York, which pushed claims to their highest level in two months. The broad tariffs imposed by President Donald Trump, including a hike on Chinese imports to 145%, have undermined business and consumer confidence, increasing economic uncertainty.