Overview

• Initial unemployment claims remained at 229,000 for the week ending May 10, consistent with historically low levels of layoffs.
• The number of continuing claims increased by 9,000 to 1.881 million, signaling slower reentry into the workforce.
• A 90-day US-China trade truce reduced some tariffs but retained a 10% blanket duty, leaving businesses cautious about hiring.
• Small business job openings that could not be filled fell to their lowest level since January 2021, reflecting tighter labor conditions.
• The Federal Reserve maintained its benchmark interest rate at 4.3% while warning of heightened risks to both inflation and unemployment.