Continued Claims Fall to 1.841 Million
Lowest Level Since January
The number of new unemployment benefit claims in the United States increased slightly last week compared to the previous week, in line with market expectations.
According to the U.S. Department of Labor on April 24 (local time), the number of new unemployment benefit claims for the week of April 13-19 reached 222,000, an increase of 6,000 from the revised figure for the previous week. This figure is in line with market forecasts.
The number of continuing unemployment benefit claims, which counts those claiming benefits for at least two consecutive weeks, was recorded at 1,841,000 for the week of April 6-12. This is the lowest level since the end of January. It is below both the previous week's revised figure of 1,878,000 and the expert forecast of 1,880,000.
As attention focuses on the economic impact of President Donald Trump's tariff policies and federal government workforce and cost reductions, Wall Street is closely monitoring labor market indicators.
While employment indicators have shown little change, it appears that companies are postponing hiring due to uncertainty surrounding tariffs.
In its Beige Book, an economic trend report released the previous day, the Federal Reserve stated, "In several regions, companies are taking a wait-and-see approach to hiring." The report noted that companies are "either halting or slowing down hiring until clearer information about the economic situation emerges," and "there have also been sporadic reports of companies preparing for layoffs."
Tom Barkin, President of the Federal Reserve Bank of Richmond, also analyzed on April 22 that "most companies are not laying off employees, but they are engaging in defensive management activities such as freezing hiring and postponing investments."
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