The number of Americans applying for unemployment benefits dipped to 245,000 last week, remaining at historically low levels. The four-week average of claims rose to 245,500, the highest since August 2023. The job market is showing signs of deceleration, with employers adding 124,000 jobs a month this year, down from previous years. The Federal Reserve is cautious about potential inflationary pressures from President Trump's trade policies and is expected to leave rates unchanged.