Tariff headwinds intensify, and the number of initial unemployment claims increases for the second consecutive week

ChainCatcher news, according to Jinshi reports, the number of initial jobless claims in the United States increased for the second consecutive week last week, indicating a weakening labor market amid the worsening economic headwinds brought by tariffs.

During and after the COVID-19 pandemic, businesses generally hoarded workers in their efforts to find labor, but the increasing uncertainty brought by President Trump's tariffs has forced some companies to lay off employees.

Economists expect that the number of initial jobless claims this month will exceed the range of 205,000 to 243,000 in 2025, mainly due to difficulties in adjusting data for seasonal fluctuations, and similar trends have also emerged in recent years. The rise in continuing jobless claims aligns with consumers' declining confidence in the job market.