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The number of Americans filing new applications for unemployment benefits fell last week, but sharp government spending cuts and an escalating trade war threaten labor market stability. Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 220,000 for the week ended March 8, the Labor Department said on Thursday. Thousands of federal government workers, mostly on probation, have been fired by tech billionaire Elon Musk's Department of Government Efficiency, or DOGE, an entity created by Trump to drastically shrink the government.

Intel's new CEO has a lot to do, but not much time to do it.

The number of Americans filing for unemployment benefits fell slightly last week, indicating a still-healthy U.S. labor market. U.S. jobless claims filings fell by 2,000 to 220,000 for the week ending March 8, the Labor Department said Thursday. It’s not clear when job cuts ordered by the Department of Government Efficiency will show up in the weekly layoffs report, though some analysts expect them to surface in data in the coming weeks.

The federal government could be in for a shutdown in less than two days after Senate Democrats offered up a plan to play hardball and oppose a House bill that would keep the government open until September.

(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here.Most Read from BloombergTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionNYC Congestion Pricing Toll Gains Support Among City ResidentsOpen Philanthropy Launches $120 Million Fund To Support YIMBY ReformsProspect Medical’s Pennsylvania Hospitals at Risk of ClosureCanada’s biggest auto parts names are buckling under the weight of US President Donald Trum

Environmental waste treatment and services provider Perma-Fix (NASDAQ:PESI) fell short of the market’s revenue expectations in Q4 CY2024, with sales falling 35.3% year on year to $14.7 million. Its GAAP loss of $0.22 per share was 83.3% below analysts’ consensus estimates.

News of the day for March 13, 2025

European markets respond to escalating tariff anxieties, as Canada and the EU announced countermeasures to the US’ 25% steel and aluminium tariffs.View on euronews

Fashion conglomerate G-III (NASDAQ:GIII) reported Q4 CY2024 results beating Wall Street’s revenue expectations, with sales up 9.8% year on year to $839.5 million. On the other hand, next quarter’s revenue guidance of $580 million was less impressive, coming in 6.9% below analysts’ estimates. Its GAAP profit of $1.07 per share was 7.9% above analysts’ consensus estimates.

Discount retailer Dollar General (NYSE:DG) met Wall Street’s revenue expectations in Q4 CY2024, with sales up 4.5% year on year to $10.3 billion. Its GAAP profit of $0.87 per share was 42% below analysts’ consensus estimates.