The weekly jobless claims in the US are sinking to the nearly 49-year low

The weekly jobless claims in the US are sinking to the nearly 49-year low

The Federal Reserve's Beige Book report, released Wednesday, described the job market as "tense across the country, with most districts reporting widespread bottlenecks."

While there have been reports of companies planning to cut jobs or lay off workers due to trade tensions between the United States and its major trading partners, these were partly offset by increased hiring in the steel industry.

However, economists warn of widespread job losses if the Trump administration upholds tariffs on almost all Chinese imports. Last week, President Donald Trump threatened to impose duties on other $ 267 billion of Chinese goods on a $ 200 billion list awaiting his decision.

Washington has already paid tariffs on Chinese imports worth $ 50 billion, resulting in a retaliatory move from Beijing. The United States has also agreed customs duties with other trading partners, including the European Union, Canada and Mexico.

Thursday's claims report also showed the number of people receiving 15,000 to 1.70 million for the first week of September after the first week of help. This is the lowest level since December 1973. The four-week moving average of so-called continued claims This is a decrease of 8,250 to 1.71 million, the lowest since November 1973.

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