WASHINGTON (Reuters)-The number of Americans who have filed new off-time requests increased slightly last week and may have a rise trend as companies deal with US President Donald Trump’s fees on imports.
Initial unemployment requests increased by 4,000 to 223,000 in a seasonal adjustment, the week ended April 5, the Labor Department said on Thursday.
Economists consulted by Reuters foresaw 223,000 requests for last week.
The Trump government’s tariff campaign has seriously impaired the trust of companies and consumers, which can weigh on investments, spending and demand for labor.
The economy created 228,000 jobs in March, while the unemployment rate rose from 4.1% in February to 4.2%.
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On Wednesday, Trump said he had suspended tariffs targeted to business partners for 90 days, less than 24 hours after new tariffs came into force and plunged the financial markets in a turbulence.
But Trump increased rates on Chinese goods from 104% to 125%, after Beijing answered with an 84% rate on US products.
A 10% general rate on almost all US imports remains in force. Trump’s fares, which he sees as a tool for increasing revenue to compensate for his promised tax cuts and to revive a long time -declining US industrial base, increased the chances of a recession in the next 12 months.
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There were still no signs that federal government staff layoffs were affecting the job market amid legal battles.
Although layoffs in general have remained historically low, hiring has been warm, which makes those who lose their jobs go through long periods of unemployment.