Last week, unemployment benefit claims in the United States fell to levels consistent with a stable labor market. Initial claims decreased by 13,000 to 228,000 in the week ending May 3, indicating that the economy is in good shape. The four-week moving average remained practically unchanged, and seasonally unadjusted initial claims also declined.
In the mentioned week, continuing unemployment support claims stood at 1.88 million, showing moderation in line with low layoff levels despite the economic uncertainty generated by tariffs and other government measures. According to data from the Department of Labor, unemployment claims have maintained this trend.
Jerome Powell, chair of the Federal Reserve, indicated that while tariffs could have negative effects on the labor market and inflation, it remains strong. However, Powell noted that people are concerned, but initial unemployment claims do not show a significant increase. Some sectors, such as education, saw an increase in claims in the previous period close to the spring break.
Regarding other data, labor productivity in the United States fell in the first quarter for the first time in nearly three years due to a decrease in economic production. However, unemployment has remained stable, job creation is positive, and wages are adequate, according to Powell. The majority of the overall decrease in claims came from New York.
