By Reuters
March 13, 2025 – 5:49 AM PDT
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WASHINGTON (Reuters) – The number of Americans filing new applications for unemployment benefits fell last week, but sharp government spending cuts and an escalating trade war threaten labor market stability.
Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 220,000 for the week ended March 8, the Labor Department said on Thursday. Economists polled by Reuters had forecast 225,000 claims for the latest week.
Claims have settled after spiking in late February amid winter storms and difficulties adjusting the data for seasonal fluctuations around the Presidents Day holiday. Though the labor market remains on solid ground, policies by President Donald Trump’s administration pose a downside risk.
Thousands of federal government…
