The number of people in the United States applying for unemployment benefits fell this week, indicating a stable labor market

The number of people applying for unemployment benefits in the United States fell last week, but significant government spending cuts and escalating trade wars threaten the stability of the labor market. The U.S. Department of Labor announced on Thursday that as of March 8, the initial number of people applying for unemployment benefits decreased by 2,000 to 220,000 after seasonal adjustment. Economists surveyed by agencies had previously expected that the initial number of applications for unemployment benefits last week would be 225,000. In late February, due to difficulties adjusting data around winter storms and President's Day holiday seasonality fluctuations, there was a surge in applications for unemployment benefits which has now stabilized. Despite a still solid labor market, policies from Trump administration pose downside risks.