U.S. Initial Jobless Claims Decrease, Aligning with Powell's Statement

The number of initial jobless claims in the United States decreased last week, following a temporary surge during the spring break and Easter holiday at the end of April. For the week ending May 3, initial jobless claims fell by 13,000 to 228,000, roughly in line with the median forecast of economists. Continuing jobless claims also dropped to 1.88 million last week. This indicates that despite the ripple effects caused by tariffs and the Trump administration's actions to reduce federal government operations, which have increased economic uncertainty, the level of layoffs remains low. Federal Reserve Chairman Powell stated on Wednesday that although tariffs may lead to higher unemployment and inflation rates, the labor market remains solid. "People feel pressure and concern. But the unemployment rate has not risen, job creation is good, and wages are in good condition." "Initial jobless claims have not increased in any surprising way. Therefore, the economy itself remains in a robust state," Powell said.