Jobless claims rise for second week as tariff headwinds intensify

Planet Daily News: Initial jobless claims in the United States increased for the second consecutive week, indicating a weakening labor market amid intensifying economic headwinds from tariffs. After and during the COVID-19 pandemic, businesses that had been hoarding workers after struggling to find labor are now being forced to lay off employees due to increasing uncertainty from President Trump's tariffs. Economists predict that initial jobless claims at the beginning of this month will exceed the range of 205,000 to 243,000 in 2025, primarily due to difficulties in adjusting for seasonal fluctuations and similar trends in recent years. The rise in continuing jobless claims aligns with declining consumer confidence in the job market. (Jin Shi)