Initial jobless claims rose by 16,000 to 219,000 for the week ending April 4, higher than expectations but still within the typical range seen in recent years, according to the Labor Department.
The data, considered a near real-time indicator of layoffs, comes even as broader economic signals remain mixed. A two-week ceasefire announcement involving the US, Iran and Israel briefly lifted market sentiment, sending oil prices down to $95 a barrel.
However, prices rebounded close to $100 amid doubts over the durability of the agreement, following renewed tensions in the region.
Energy markets have seen sharp swings in recent weeks, with US crude previously touching $112 a barrel during the conflict, compared to around $67 beforehand. Despite the temporary dip, elevated fuel costs continue to burden businesses and consumers.
Also Read: Oil could climb back to $150 if ceasefire breaks down, warns FGE’s Iman Nasseri
The labour market, meanwhile, reflects mixed trends. Employers added 178,000 jobs in March, bringing the unemployment rate down to 4.3%, following a loss of 92,000 jobs in February. Revisions also trimmed 69,000 jobs from December and January payrolls, signalling underlying strain.
Recent layoffs by major firms, including Oracle and The Walt Disney Company, alongside cuts announced by Morgan Stanley, Block Inc, United Parcel Service and Amazon, point to continued pressure.
Also Read: ‘Our fingers remain on the trigger’: Iran flags ceasefire violation ahead Islamabad talks
