The headwinds of tariffs are intensifying, with the number of initial jobless claims increasing for the second consecutive week.

On 5 June, U.S. initial jobless claims rose for the second week in a row last week, indicating weaker labor market conditions amid heightened economic headwinds from tariffs. During and after the pandemic, businesses generally hoarded workers after struggling to find labor, but the growing uncertainty caused by President Trump's tariffs has forced some businesses to lay off workers. Economists expect jobless claims to break through the 2025 range of 205,000 to 243,000 earlier this month, largely due to the difficulty of adjusting data for seasonal fluctuations, and similar trends have been observed in recent years. The rise in continuing jobless claims is in line with declining consumer confidence in the job market. ( gold ten )