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Amidst fears of a full-on recession as the U.S. economy braces for the impact of Trump’s tariffs retaliations, the American labor market became an immense concern as questions arise about whether the U.S. labor force can withstand the economic pressures mounting from global trade conflicts.
The U.S. labor market displayed unexpected strength amid fears of a full-on recession and the impact of Trump’s tariffs.
According to the latest report from the U.S. Department of Labor, initial jobless claims came in at 224,000 for the week ending on March 22. This reading beat market expectations of 225,000 and followed the previous week’s revised claims of 216,000.
The report also showed that the unemployment benefit claims for the past week were lower than anticipated.
Moreover, the report showed that initial jobless claims were in line with economists’ expectations for the week.
The figures indicated that job openings slowed down more than anticipated in February. Economists polled by Dow Jones had predicted a decline to 6.9 million from January’s revised total of 7.3 million.
The report also showed that the layoff rate remained at 1.6%, which was in line with economists’ expectations.
The overall labor market appeared to be more resilient than initially expected.output:
The U.S. labor market displayed unexpected strength amid fears of a full-on recession and the impact of Trump’s tariffs.
According to the latest report from the U.S. Department of Labor, initial jobless claims came in at 224,000 for the week ending on March 22. This reading beat market expectations of 225,000 and followed the previous week’s revised claims of 216,000.
The report also showed that the unemployment benefit claims for the past week were lower than anticipated.
Moreover, the report showed that initial jobless claims were in line with economists’ expectations for the week.
The figures indicated that job openings slowed down more than anticipated in February. Economists polled by Dow Jones had predicted a decline to 6.9 million from January’s revised total of 7.3 million.
The report also showed that the layoff rate remained at 1.6%, which was in line with economists’ expectations.
The overall labor market appeared to be more resilient than initially expected.
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