By Arlenys Tabare
According to data published this Thursday by the Department of Labor, US jobless claims rose to highest level since the war with Iran began in February.
Details of the analysis indicate that, for At the end of the last week of May, 13,000 applications were registered, reaching 225,000 seasonal applications. Despite low levels of layoffs, the labor market shows signs of stagnation with a trend of low hiring.
Regarding the recent figures, Oliver Allen, senior US economist at Pantheon Macroeconomics, commented that, so far, in general terms, The trend in both initial and continuous applications for unemployment benefits remains very moderate.
However, the specialist stated that it would be very imprudent to conclude that the labor market is in perfect condition simply because applications are low. “The low labor turnover continues to adequately describe the market situation, and only around one in four unemployed people apply for the subsidy,” he added.
At the moment, The unemployment rate in the United States remains at 4.3%, And while 115,000 new jobs were added in April, the war with Iran is causing great uncertainty in the economy, leaving many unemployed people struggling to find new jobs.
On the other hand, unemployment claims are expected to increase for the holiday season, since, according to Nancy Vanden Houten, senior US economist at Oxford Economics, “some states allow school workers who are on summer vacation to apply for unemployment benefits, which can cause an increase in official figures that is not always reflected in seasonal factors,” he commented.
Since the recession caused by the pandemic, Unemployment applications in the country have stabilized in ranges between 200,000 and 250,000. However, high inflation, high tariffs and other monetary and labor policies have caused the pace of hiring to slow, creating fewer jobs than in previous years.
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