US jobless claims rise, corporate profits fall, uncertainty persists due to tariffs

From Quiver Quant: 2025-05-29 21:58:00

U.S. weekly jobless claims rose by 14,000 to 240,000, surpassing economist forecasts, signaling potential labor market deterioration amid tariff uncertainties. Corporate profits fell sharply by $118.1 billion in Q1, reflecting economic weakness and impacting hiring incentives. Michigan, California, and Nebraska saw notable increases in jobless claims, highlighting challenges in key industrial states. Despite caution from employers post-pandemic, the Federal Reserve notes uncertainty and risks to labor market stability, anticipating a potential uptick in the unemployment rate. Market response reflects investor anxiety about America’s economic trajectory amid policy-driven volatility.



Read more at Quiver Quant: US Jobless Claims Surge Amid Corporate Profit Slump and Tariff Uncertainty