Initial claims for state unemployment benefits rose 8,000 to a seasonally adjusted 247,000 for the week ended May 31, the Labor Department said on Thursday. Companies are generally hoarding workers after struggling to find labor during and after the COVID-19 pandemic, but mounting uncertainty because of President Donald Trump's tariffs is forcing some to layoff workers.
A twist in the debate over Trump's deficit-busting bill: A (long shot) scenario where tariffs could offset the costs
Congress's top budget scorekeeper released two reports Wednesday that taken together suggest tariff revenues could offset some or all of the multi-trillion dollar costs likely coming from Trump's "Big Beautiful Bill."
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