Rising Unemployment and Economic Uncertainty Amid Tariff Tensions

Recent reports show an unexpected rise in jobless claims in the United States, indicating growing economic uncertainty. The Labor Department's data reveals an increase in unemployment benefits applications, with a significant surge in Michigan.

Amid tariffs impacting the economic outlook, economists express concerns over the rising layoffs and declining corporate profits in the first quarter. This economic situation presents challenges for businesses to predict future growth.

Although the labor market remains steady, the fluctuating trade policies and the Federal Reserve's cautious stance on interest rates highlight the potential risks of inflation and slowed economic growth.

(With inputs from agencies.)