US jobless claims unexpectedly fell last week to the lowest level in more than a month, keeping the cooling labor market on solid footing.
Consumers, however, remain downbeat and expect unemployment to rise this year. Beyond the headline numbers, the manufacturing sector has emerged as especially vulnerable, experts noted: Manufacturing jobs have declined every month since President Donald Trump launched his 2025 tariff salvo, which the White House said would herald an onshore factory renaissance.
“Global supply chains took years to develop,” a Cato Institute economist wrote. “They’ll take even longer to reorganize [if] they don’t break altogether.”