Lates News

The drop in initial jobless claims in the United States last week indicates that the labor market remains stable despite employers being cautious about hiring new staff due to the shadow cast by the conflict in the Middle East. The latest data shows that the number of initial jobless claims in the United States dropped by 11,000 people to 207,000 people in the week ending April 11th, below the market expectation of 215,000 people. The number of initial jobless claims so far this year remains in the range of 201,000 to 230,000. Although the number of layoffs remains low, the impact of the spike in oil prices due to the US-Iran war may hinder hiring. Economists suggest that the labor market was already stagnant before the war broke out, attributed to the uncertainty caused by Trump's comprehensive import tariffs and mass deportations. Economists say that the conflict in the Middle East is just another layer of uncertainty that businesses are facing.