US weekly unemployment claims fall to 215,000 below economists' expectations
Business
Unemployment claims in the US fell to 215,000 last week, down by 12,000 and lower than what economists expected.
Even with inflation and other challenges, layoffs are staying steady, which means the job market is holding up pretty well.
US unemployment 4.3% with 7.6 million openings
The unemployment rate is still low at 4.3%, and job openings jumped to 7.6 million in April.
Employers have been hiring fast, averaging 188,000 new jobs a month since the Iran conflict started in February, the strongest streak since early 2024.
Inflation is still making things tricky for companies though; gas prices spiked because of global tensions but have eased after a recent U.S.-Iran deal.
The Fed might raise interest rates later this year to keep prices in check.