Overview

• Initial claims for state unemployment benefits rose by 14,000 to a seasonally adjusted 240,000 for the week ended May 24, the highest level since early May.
• Continuing claims climbed by 26,000 to 1.919 million during the week ending May 17, reflecting employers’ hesitance to add headcount under economic uncertainty.
• The median duration of unemployment increased to 10.4 weeks in April from 9.8 weeks in March, indicating longer spells out of work for many jobless Americans.
• A U.S. trade court blocked most of President Trump’s tariffs, ruling he exceeded his authority and introducing fresh uncertainty for businesses planning amid tariff disputes.
• The Federal Reserve has kept its benchmark rate at 4.25%–4.50% since December and its May minutes highlighted risks that unresolved trade tensions could weaken hiring.