Analysis: US weekly jobless claims fall, labor market conditions remain stable

Odaily Planet Daily News The number of Americans filing for unemployment benefits decreased last week, and the unemployment rate in April appears to have remained stable, with the labor market still showing no significant impact from the US-Israel war against Iran. Data released by the US Department of Labor on Thursday showed that initial jobless claims for the week ending April 25 stood at 189,000. Despite the oil price shock caused by the conflict in the Middle East, the labor market continues to maintain a "low hiring, low layoff" pattern.

Nevertheless, economists warn of downside risks due to disruptions in shipping through the Strait of Hormuz, which have pushed up prices for other commodities such as fertilizers, petrochemicals, and aluminum. The number of continuing jobless claims, seasonally adjusted, fell by 23,000 to 1.785 million. A survey by the Conference Board on Tuesday showed that the proportion of consumers who said jobs were "hard to get" fell in April, while the proportion who said jobs were "plentiful" was largely flat. Economists said the findings were consistent with the unemployment rate remaining stable in April. (Jinshi)