Jobless claims fall to 2-month low. No sign trade wars are triggering more layoffs.

If the stress of trade wars starts to pressure the U.S. economy, one of the first signs is likely to be an increase in layoffs and unemployment. Yet so far there’s no evidence the labor market is suffering. The number of people who applied for unemployment benefits last week fell by 9,000 to 215,000 and matched a two-month low.