Last Week's New Unemployment Claims at 228,000... 'Below Expectations'

After a Temporary Surge Due to Spring Break and Easter, Numbers Decline
Continuing Unemployment Benefit Claims Also Fall Short of Expectations

Last week, the number of new unemployment benefit claims in the United States decreased compared to the previous week, coming in below expectations.

AP Yonhap News

According to the U.S. Department of Labor on May 8 (local time), the number of new unemployment benefit claims for the week of April 27 to May 3 was 228,000, a decrease of 13,000 from the revised figure of 241,000 for the previous week. This figure also fell short of the market forecast of 231,000.

The number of unemployment benefit claims, which had temporarily surged at the end of April due to New York City's spring break and Easter, declined within just one week.

The number of continuing unemployment benefit claims, which counts those receiving benefits for at least two consecutive weeks, was recorded at 1,879,000 for the week of April 20 to 26. This is lower than both the revised figure of 1,908,000 for the previous week and the expert forecast of 1,890,000.

Wall Street is closely monitoring labor market, inflation, and growth indicators to assess the potential impact of President Donald Trump's tariff policies, as well as federal government workforce and cost reductions, on the economy.

Jerome Powell, Chair of the U.S. Federal Reserve (Fed), stated the previous day, immediately after the Fed held the benchmark interest rate steady for the third consecutive time, "Tariffs will certainly increase the risk of higher inflation and unemployment." However, he noted that the unemployment rate has not yet risen and job creation remains solid, adding, "The economy itself is still in a robust condition."