The advance figure for seasonally adjusted initial unemployment claims was 223,000, an increase of 4,000 from the previous week’s unrevised total.
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President Trump Pauses “Reciprocal” Tariffs for 90 Days, but Raises China’s Tariff to 125%
Trump announced a 90-day pause on the steep tariffs announced last week, opting instead for a lower 10% universal tariff, Fortune reported.
EU Launches First Countermeasures in Response to US Metals Tariffs
The EU will launch its first countermeasures next week in response to US tariffs, joining China and Canada in escalating the global trade conflict, Reuters reported.
Mortgage Applications Increase in the Week Ending April 4
Mortgage loan application volume increased 20.0% on a seasonally adjusted basis from one week earlier, MBA reported.
FEA: Implications of the New Tariffs on the US Economy and Wood Products Sector
Analysis from FEA’s Brendan Lowney: “New Tariffs Will Have Massive Effects on the US Economy; North American Wood Products Sector Will See Few Direct Effects”
MBA Mortgage Credit Availability Index Increases for Fourth Consecutive Month in March
The MBA Mortgage Credit Availability Index (MCAI) rose 2.5%, reaching a reading of 102.9 in March.
As More US Multifamily Units Are Absorbed, Rental Market Fundamentals Stabilize
US apartment demand was well above average in Q1, helping to push market fundamentals back toward more typical levels, RealPage Market Analytics reported.
NFIB Small Business Optimism Index Retreats for Third Consecutive Month in March
The NFIB Small Business Optimism Index declined 3.3 points to 97.4 in March, slipping just below the 51-year average of 98.
US Construction Sector Employment Holds Steady in March
Employment in the construction sector increased by 13,000 in March, following a gain of 14,000 in February, the BLS and NAHB reported.
US Nonfarm Payroll Increases by 228,000 in March; Unemployment Ticks Up to 4.2%
Total nonfarm payroll employment increased by 228,000 in March, higher than the average monthly gain of 158,000 over the prior 12 months.