US applications for jobless benefits hold firm as layoffs remain low
U.S. applications for jobless benefits held steady last week as layoffs remain low despite uncertainty over how President Donald Trump’s tariffs will impact the economy
By MATT OTT AP business writer
May 15, 2025, 7:42 AM
WASHINGTON -- U.S. applications for jobless benefits held steady last week as layoffs remain low despite uncertainty over how President Donald Trump’s tariffs will impact the economy.
The number of Americans applying for unemployment aid was unchanged at 229,000 for the week ending May 10, the Labor Department said Thursday. That’s in line with the 230,000 new applications analysts forecast.
Weekly applications for jobless benefits are seen as representative of U.S. layoffs and have mostly bounced around a healthy range between 200,000 and 250,000 since COVID-19 ravaged the economy and wiped out millions of jobs five years ago.
Even though Trump has paused or rolled back many of his tariff threats, concerns remain about a global economic slowdown that could upend the U.S. labor market, which has been a pillar of the American economy for years.
Last week, the Federal Reserve held its benchmark lending rate at 4.3% for the third straight meeting after cutting it three straight times at the end of last year.
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