American applications for unemployment services fall for the fifth consecutive week, reaching the lowest level since April
Washington (AP) – The number of Americans depositing unemployment benefits dropped last week at the lowest level in three months, a sign that the US labor market remains solid despite fears of the impact of generalized American tariffs.
The Labor Department reported on Thursday that unemployment claims for the week ending on July 12 had dropped from 7,000 to 221,000, the fifth consecutive weekly decrease and the least since mid-April. The number of last week was also lower than the 232,000 that analysts provide. Requests for unemployment aid are considered representative of layoffs.
Earlier this month, the Labor Department indicated that American employers added 147,000 surprising jobs In June, adding to the proof that the American labor market continues to be resilient despite the uncertainty about the economic policies of President Donald Trump. The employment gains were much larger than expected and the unemployment rate fell 4.1% against 4.2% in May. Analysts expected unemployment to reach 4.3%.
Although the labor market is largely healthy compared to historical standards, a certain weakness has surfaced while employers face the benefits of Trump policies, in particular its aggressive prices, which increase the prices of companies and consumers. Most economists believe that import duties make the economy less effective by reducing competition. They also invite reprisal rates from other countries, injuring American exporters and potentially leading businesses to freeze or cut the staff.
The deadline for most strong taxes offered by Trump on imports was extended to August 1. Unless Trump reaches agreements with other countries to reduce prices, economists fear that they can act as an exercise in the economy and trigger another inflation access.
Companies that have announced job cuts this year include Procter & Gamble,, Working day,, Dow,, Cnn,, Starbucks,, Southwest Airlines,, Microsoft,, Google and Facebook’s parent company Meta.
The report of the Labor Department said Thursday that the four -week average of complaints, which elegant some of the ups and tops, dropped from 6,250 to 229,500.
The total number of Americans collecting unemployment benefits for the week of July 5 has remained stable, at 2,000 to 1.96 million.
