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flag Despite trade tensions, US unemployment claims drop to 228,000, yet economy contracts.

flag Despite rising uncertainty due to President Trump's tariffs, the number of Americans applying for unemployment benefits fell last week to 228,000. flag The labor market remains robust with 177,000 jobs added in April and a 4.2% unemployment rate. flag However, concerns persist about a potential global economic slowdown and the impact of trade wars, with the US economy contracting by 0.3% in the first quarter. flag The Federal Reserve held interest rates steady, noting increased risks of unemployment and inflation.

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