US filings for jobless aid inches down modestly as uncertainty lingers

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US filings for jobless aid inches down modestly as uncertainty lingers - Business Standard

Quick Summary:

Weekly applications for jobless benefits are seen as representative of US layoffs and have mostly bounced around a historically healthy range between 200,000 and 250,000 since COVID-19 ravaged the economy and wiped out millions of jobs five years ago.

Even though President Donald Trump has paused or dialled down many of his tariff threats, concerns remain about a global economic slowdown that could upend the US labour market, which has been a pillar of the American economy for years.

The number of Americans filing unemployment claims last week fell slightly as businesses continue to retain employees despite growing economic uncertainty over US trade policy.