New applications for unemployment benefits fell to their lowest level in six weeks, providing reassurance that the U.S. job market remains stable despite economic headwinds.
The drop of 10,000 claims to 227,000 suggests employers are reluctant to cut staff, even as trade wars create uncertainty.
The decline was widespread, with 38 states reporting fewer claims, particularly those that had seen spikes after schools let out for summer.
However, there are some concerns: the number of people receiving ongoing benefits reached 1.97 million, the highest since late 2021, indicating job seekers are taking longer to find work.
While economists expect slower economic growth in 2025 due to trade tensions, current data shows the feared wave of layoffs hasn’t materialized.
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