US Jobless Claims Fall to 209,000 as Single-Family Housing Starts Tumble 9.0%

3 articles · Updated · Reuters · May 21

209,000 Americans filed new unemployment claims in the latest week, down 3,000 and signaling layoffs remain low despite tech-sector job cuts.
That labor-market resilience gives the Federal Reserve room to keep rates steady even as the Iran war lifts oil prices, disrupts supply chains and fuels broader inflation pressure.
930,000 single-family housing starts were recorded in April, down 9.0% from March, while permits for future construction fell 2.6% to 872,000.
6.51% average 30-year mortgage rates, higher Treasury yields, tariffs and rising construction costs are deepening housing weakness, with residential investment shrinking for five straight quarters.
1.782 million continuing claims and a 21-month low in private-sector employment from S&P Global suggest hiring is softening even as the broader labor market still holds up.

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