The number of initial jobless claims in the United States rose slightly to 214,000 last week, as the job market continues to exhibit a pattern of "low hiring, low layoffs".

Last week, the number of initial jobless claims in the United States rose slightly, but still remained at a historically low level. Data released by the US Department of Labor on Thursday showed that for the week ending April 18, the number of initial jobless claims increased by 6,000 from the previous week to 214,000, slightly higher than the analyst's expectation of 210,000. The data indicates that while initial jobless claims have slightly increased, they are still in a low range over the past year, indicating limited layoffs by companies. The four-week moving average of initial jobless claims, which smooths out weekly fluctuations, also increased slightly by 750 to 210,750. For the week ending April 11, the number of continued jobless claims increased by 12,000 to 1.82 million, remaining at a historically healthy level. Since the US economy began to recover from the recession triggered by the pandemic, weekly initial jobless claims have remained stable between 200,000 and 250,000. However, about two years ago, hiring started to slow down further due to Trump's fluctuating tariff policies, federal workforce reductions, and the lagging effects of high interest rates maintained to curb inflation. Earlier this month, the US Department of Labor reported that employers unexpectedly added a strong 178,000 jobs in March, pushing the unemployment rate down to 4.3%. However, previous employment data for February showed a surprising decrease of 92,000 jobs. In addition, data revisions reduced the total employment for December and January by 69,000, indicating that the labor market is still under pressure. Several well-known companies, including Morgan Stanley, Block, United Parcel Service, and Amazon.com, have recently been downsizing. A survey conducted by Harris Poll at the end of March showed that about half of employed Americans are worried about losing their jobs, but initial jobless claims data has not yet reflected a substantial increase in the scale of layoffs. According to data from FactSet, employers added fewer than 200,000 jobs last year, while this number is expected to be around 1.5 million in 2024. This has put the US labor market in a state of "low hiring, low firing," where the unemployment rate remains at historically low levels but makes it difficult for job seekers to find new employment. Currently, the ongoing conflict in Iran has injected significant uncertainty into the economic outlook for the US and the world, despite being under a ceasefire agreement. The market has rebounded to record levels for American Financial Group, Inc., and US crude oil prices are holding steady at around $94 per barrel. While this is an improvement from the $112 per barrel earlier this month, it is still 40% higher than before the outbreak of hostilities. Gasoline prices remain high, posing higher costs for businesses and consumers. Recent reports from the US Department of Labor stated that consumer prices rose by 3.3% year-on-year in March, compared to a 2.4% increase in February, marking the largest annual increase since May 2024. On a month-to-month basis, prices rose by 0.9% in March compared to February, the largest monthly increase in nearly four years. This round of inflation comes at a time when the US inflation rate is already above the Federal Reserve's 2% target, further reducing the likelihood of the central bank officials lowering interest rates in the short term. While lowering rates can stimulate economic and employment growth, it often leads to higher inflation. Earlier, due to concerns about weakening job market, Federal Reserve officials voted to cut interest rates three times in late 2025, but have not yet taken further action this year. The Federal Reserve will hold a meeting next week to decide on interest rate policy.