TechFlow news, May 8 — According to Jinshi Data, the number of initial U.S. jobless claims last week fell more than expected, indicating that the labor market continues to remain steady despite rising risks from tariffs. The U.S. Department of Labor reported that seasonally adjusted initial jobless claims for the week ending May 3 decreased by 13,000 to 228,000, lower than the market expectation of 230,000.
The decline partially offset the impact of spring break in New York State schools, which had pushed jobless claims to a two-month high. However, economists said it is only a matter of time before weak business and consumer surveys affect so-called hard data such as initial jobless claims, inflation, and employment reports. On Wednesday, the Federal Reserve held interest rates steady in the 4.25%-4.50% range, with policymakers noting increased risks of higher unemployment and inflation.
