Weekly Jobless Claims Fell by More Than Expected As Trade War Escalated
5/16/2019 10:45 AM EST
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The number of Americans filing applications for new unemployment benefits plunged lower last week even as trade tensions between the U.S. and China escalated.
New claims for state unemployment benefits declined by 16,000 to a seasonally adjusted 212,000 for the week ended May 11, the Labor Department said on Thursday.
Claims - Proxy - Layoffs - Number - Claims
Initial jobless claims are a proxy for layoffs. The low number of claims suggests that rising tariffs and retaliation by China have not hurt American workers.
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