US Labor Market Stable Amid Tariffs and Cuts

The U.S. labor market remains stable despite President Trump's new tariffs and ongoing layoffs. Initial jobless claims have decreased by 6,000 to 219,000, maintaining historically low levels, though recurring claims have risen to 1,903,000, the highest since November 2021. Kentucky experienced a significant rise in unemployment claims, increasing by 114.9%, while Nebraska saw the largest decrease. Despite these fluctuations, the overall labor market stability is reflected in the 4-week moving average of initial claims, which edged slightly lower to 223,000. The tariffs and deep spending cuts could pose future risks to employment, but current job openings still outnumber unemployed individuals.