US Weekly Jobless Claims Rise to 237,000 Exceeding Expectations

The U.S. economy shows mixed signals with a widening trade deficit increasing to $78.3 billion, driven largely by a significant rise in imports as consumers and businesses stockpiled goods ahead of tariff reinstatements. Jobless claims rose slightly to 237,000 for the week ending August 30, above economists' expectations, yet remain within a historically healthy range, indicating that employers are still retaining workers despite economic slowdown concerns. The four-week average of claims also edged up, while the total number of Americans collecting unemployment benefits decreased marginally to 1.94 million. Hiring has weakened, with job gains averaging much lower than a year ago, and the unemployment rate holding at a low 4.2%, reflecting a cautious labor market environment amid economic uncertainty. Economic growth has slowed due to reduced expansion projects amid tariff policy impacts, with GDP growth at a modest 1.3% annual rate in the first half of the year. These labor market trends and trade data are being closely monitored by Wall Street and the Federal Reserve as indicators of the economy's trajectory.