Jobless Claims Rise Slightly to 215,000 as Labor Market Remains Strong

U.S President Donald Trump (C) and his wife Melania Trump , flanked by Mr and Mrs Abe onboard the Japan's navy ship Kaga on May 28, 2019 in Yokosuka, Kanagawa, Japan. U.S President Donald Trump is on a four-day state visit to Japan, the first official visit of the Reiwa …
Charly Triballeau - Getty Images

New jobless claims climbed to 215,000 last week, in line with economist expectations and up slightly from the 212,000 for the week before.

Initial jobless claims are a proxy for layoffs and have been closely watched as the trade war with China heated up for signs that tariffs would weigh on workers. Contrary to the predictions of tariff critics, the labor market has strengthened as the U.S. and China raised import levies.

Jobless claims can be volatile week-to-week. Economists regard the four-week moving average as a more stable measure of the labor market. This fell by 3,750 to 216,750.

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