PANews reported on March 27 that according to Jinshi, the number of new applications for unemployment benefits in the United States fell last week, while the unemployment rate appeared to remain stable in March. The low layoff rate has mitigated the impact of the sharp slowdown in hiring, keeping the labor market on a solid footing and the economic expansion on track. But Trump's aggressive trade policies and his ambitious move to significantly reduce the size of the federal government through deep spending cuts and large-scale layoffs have cast a shadow over the economy. While there has been no significant increase in the number of federal government workers applying for unemployment compensation, there has been an increase in the number of applicants in the Washington, D.C. metropolitan area, including parts of neighboring Maryland and Virginia. This is likely to reflect the layoffs of contractors and other people who rely on government funds. A survey released by the Conference Board on Tuesday showed that consumers' views on the labor market improved slightly in March, and economists expect the unemployment rate to remain stable at 4.1% this month.
Earlier news showed that the number of initial jobless claims in the United States for the week ending March 22 was 224,000, compared with expectations of 225,000.
