The number of initial jobless claims in the United States has decreased, which is consistent with Powell's statement.

The number of initial jobless claims in the United States dropped last week, despite a short-term spike in claims during the spring break and Easter holidays in late April. As of the week ending May 3, initial jobless claims decreased by 13,000 to 228,000. This is roughly in line with economists' forecasts. The number of continuing jobless claims also fell to 1.88 million last week. This indicates that, despite increased economic uncertainty due to tariffs and actions taken by the Trump administration to reduce the federal government, levels of layoffs remain low. Federal Reserve Chairman Powell said on Wednesday that although tariffs could lead to an increase in unemployment and inflation rates, the labor market remains strong. "People are feeling pressure and concern. But the unemployment rate has not risen, job creation is strong, and wage conditions are good." "Initial jobless claims have not increased in any surprising way. Therefore, the economy itself remains in a solid state," Powell said.