According to Labor Department data, unemployment filings saw their steepest increase in nearly three months, highlighting slowing hiring trends and pressures from recent trade policy shifts.
U.S. initial jobless claims rose by 11,000 to 235,000 for the week ending August 16, marking the largest increase in nearly three months. The rise, above both forecasts and the prior week’s level, points to mounting layoffs and weakening labor conditions as businesses contend with President Trump’s protectionist trade policies. Average monthly job growth has slowed to 35,000 over the past three months, further signaling labor market strain.