In the past week, many Americans remained focused on the economy, inflation and how those forces could impact their lives. Trips to the grocery store or gas station are more painful than they were last year, and that is impacting the decisions of both households and businesses.
Here’s a snapshot of prominent economic data and news that occurred over the past week and what it potentially means for you.
America’s employers delivered a surprising 115,000 new jobs last month despite an economic shock from the Iran war.
Hiring was better than the 65,000 forecasters had expected, though it decelerated from the 185,000 jobs created in March. The unemployment rate remained at a low 4.3%, the Labor Department reported Friday.
Healthcare added 37,000 jobs last month and retailers 22,000. However, manufacturers cut 2,000 jobs in April and have shed 66,000 jobs over the past year despite President Donald Trump’s protectionist policies aimed at creating factory jobs.
The average long-term U.S. mortgage rate rose again this week, reflecting ongoing bond market volatility as surging oil prices due to the war with Iran heighten inflation worries.
The benchmark 30-year fixed rate mortgage rate rose to 6.37% from 6.3% last week, mortgage buyer Freddie Mac said Thursday. That’s still down from one year ago, when the rate averaged 6.76%.
This is the second straight weekly increase, bringing the average rate back to where it was four weeks ago.
Weekly U.S. jobless claim applications rose last week but remain at historically low levels despite elevated inflation and other economic headwinds.
The number of Americans filing for unemployment benefits in the week ending May 2 rose by 10,000 to 200,000, the Labor Department reported Thursday. That’s fewer than the 205,000 new applications analysts surveyed by the data firm FactSet were expecting.
The previous week’s new claims figure, which was the fewest since 1969, was revised up by 1,000 to 190,000.
Weekly filings for unemployment benefits are considered a proxy for U.S. layoffs and are close to a real-time indicator of the health of the job market.
U.S. job openings were essentially unchanged in March but hiring improved before the full impact of the Iran war hit the economy.
Employers posted 6.87 million jobs in March, compared to 6.92 million in February, the Labor Department reported Tuesday.
The job market has been up and down so far this year after a dismal 2025. And the Iran war, which began Feb. 28, has clouded the outlook for the economy and hiring.
The Job Openings and Labor Turnover Survey showed that layoffs rose in March. But hiring improved: Employers added 5.55 million gross jobs, the most since February 2024. More Americans also quit their jobs — a sign of confidence in their prospects.
U.S. stocks rose toward new highs to end the week on promising news in the labor market and also more strong earnings for major U.S. corporations.
The S&P 500 climbed 0.5% toward an all-time high after a report said U.S. employers added 115,000 more jobs than they cut last month, even though the war with Iran is raising fuel costs and uncertainty for everyone.
While hiring slowed from March’s level, it was nevertheless nearly double what economists expected. And it kept the S&P 500 on track for a sixth straight winning week, which would be its longest such streak since 2024. The U.S. stock market has blasted higher since late March, in part on hopes that the war will not mean a worst-case scenario for the global economy and that the Strait of Hormuz will reopen to allow oil tankers to deliver crude from the Persian Gulf again.
Trader Edward McCarthy, left, and Michael Milano work on the floor of the New York Stock Exchange, Thursday, May 7, 2026. (AP Photo/Richard Drew)
FILE - The per-gallon price is displayed elecronically over the grades of gasoline available at a Buc-ee's convenience stop Thursday, May 7, 2026, in Johnstown, Colo. (AP Photo/David Zalubowski, file)
FILE - Hiring sign for sales professionals is displayed at a store, in Vernon Hills, Ill., Wednesday, April 15, 2026. (AP Photo/Nam Y. Huh, file)
MOSCOW (AP) — Russian President Vladimir Putin on Saturday voiced confidence of victory in Ukraine as he oversaw a military parade on Red Square commemorating the defeat of Nazi Germany in World War II — a show that didn't include heavy weapons for the first time in nearly two decades.
Security was tight in Moscow as Putin and several foreign leaders attended the parade, which was scaled down even as a U.S.-brokered three-day ceasefire eased concerns about possible Ukrainian attempts to disrupt the festivities.
Putin, in power for more than a quarter-century, has used Victory Day, Russia’s most important secular holiday, to showcase the country’s military might and rally support for his military action in Ukraine, now in its fifth year.
Speaking at the parade, Putin hailed Russian troops fighting in Ukraine, declaring that they “face an aggressive force that is armed and supported by the entire bloc of NATO," and are fighting for a “just cause.”
“Victory has always been and will be ours,” Putin said, as columns of troops lined up on Red Square. “The key to success is our moral strength, courage and valor, our unity and ability to endure anything and overcome any challenge.”
But in a notable shift this year, the parade took place without tanks, missiles and other heavy equipment, aside from a traditional flyover of combat jets.
Officials explained the sudden change of format by the “current operational situation” and said that additional security measures have been taken in response to the threat of Ukrainian attacks. State television commentators said that the heavy weaponry was more needed at the battlefield in Ukraine.
For the first time, Saturday's parade featured troops from North Korea, a tribute to Pyongyang that sent its soldiers to fight alongside Moscow forces to repel a Ukrainian incursion into Russia's Kursk region.
Russia declared a unilateral ceasefire for Friday and Saturday, while Ukrainian President Volodymyr Zelenskyy announced a truce that was supposed to begin on May 6, but neither of them held as the parties traded blame for continuing attacks.
U.S. President Donald Trump announced Friday that Russia and Ukraine have bowed to his request for a ceasefire running Saturday through Monday and an exchange of prisoners, declaring that the break in fighting could be the “beginning of the end” of the war.
Zelenskyy, who said earlier this week that the Russian authorities “fear drones may buzz over Red Square” on May 9, followed up on Trump's statement by issuing a decree mockingly permitting Russia to hold its Victory Day celebrations on Saturday, declaring Red Square temporarily off-limits for Ukrainian strikes.
Kremlin spokesman Dmitry Peskov shrugged off Zelenskyy’s decree as a “silly joke.” “We don’t need anyone’s permission to be proud of our Victory Day,” Peskov told reporters.
Russia’s bigger and better-equipped military has been making slow but steady gains along the more than 1,000-kilometer (over 600-mile) front line. Ukraine has hit back with increasingly efficient long-range attacks, striking Russian energy facilities, manufacturing plants and military depots. It has developed drones capable of reaching targets over 1,000 kilometers (more than 600 miles) deep into Russia, far beyond its capabilities before 2022.
Russian authorities warned that if Ukraine attempts to disrupt Saturday’s festivities, Russia will carry out a “massive missile strike on the center of Kyiv.” The Russian Defense Ministry warned the civilian population there and employees of foreign diplomatic missions of “the need to leave the city promptly.” The EU said its diplomats wouldn’t leave the Ukrainian capital despite Russian threats.
Putin has used Victory Day celebrations to encourage national pride and underline Russia’s position as a global power. The Soviet Union lost 27 million people in 1941-45 in what it calls the Great Patriotic War, an enormous sacrifice that left a deep scar in the national psyche and remains a rare point of consensus in the nation’s divisive history under Communist rule.
“We celebrate it with feelings of pride and love for our country, with understanding of our shared duty to defend the interests and future of our Motherland,” Putin said at the parade.
“Our soldiers suffered colossal losses, made a colossal sacrifice in the name of freedom and dignity of the peoples of Europe, became the embodiment of courage and nobility, fortitude and humanity, and crowned themselves with the great glory of a grandiose victory.”
Victory Day parades on Red Square have involved a broad array of heavy weapons — from armored vehicles to nuclear-tipped intercontinental ballistic missiles — every year since 2008. Smaller parades are held elsewhere across the country, but this time many of them have also been pared down or even canceled altogether for security reasons.
The authorities on Saturday ordered restrictions on all mobile internet access and text messaging services in the Russian capital, citing the need to ensure public safety. The government has methodically tightened internet censorship and established increasingly stringent controls over online activities, causing rumblings and rare public expressions of discontent.
Malaysia’s King Sultan Ibrahim Iskandar, Laos President Thongloun Sisoulith, Kazakhstan’s President Kassym-Jomart Tokayev, Uzbekistan's President Shavkat Mirziyoyev and Belarus’ authoritarian leader Alexander Lukashenko attended the festivities in the Russian capital.
Prime Minister Robert Fico of Slovakia, a European Union member, laid flowers at the Tomb of the Unknown Soldier memorial just outside the Kremlin walls but stayed away from the Red Square parade. German Chancellor Friedrich Merz criticized Fico’s trip, saying, "I deeply regret this, and we will discuss his visit to Moscow with him.”
Speaking at a meeting with Putin in the Kremlin, Fico bemoaned what he called a new “Iron Curtain” in Europe that hampered trade, and emphasized the importance of Russia's energy supplies to Slovakia. Putin hailed the Slovak leader for conducting a “sovereign” foreign policy and honoring the memory of fallen Red Army soldiers.
Kremlin foreign affairs adviser Yuri Ushakov said that Fico informed Putin about his discussions with Zelenskyy but didn't convey any message from the Ukrainian leader.
Russian servicemen march as they attend the Victory Day military parade in Moscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during World War II. (AP Photo/Pavel Bednyakov, Pool)
Russian President Vladimir Putin, centre foreground, attends a ceremony to lay flowers at the Tomb of the Unknown Soldier by the Kremlin wall inMoscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during the World War II. (Alexander Nemenov/Pool Photo via AP)
Russian servicemen attend the Victory Day military parade in Moscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during World War II. (AP Photo/Alexander Zemlianichenko, Pool)
Russian servicemen attend the Victory Day military parade in Moscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during the World War II. (Shamil Zhumatov/Pool Photo via AP)
Russian President Vladimir Putin, centre foreground, attends a ceremony to lay flowers at the Tomb of the Unknown Soldier by the Kremlin wall inMoscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during the World War II. (Alexander Nemenov/Pool Photo via AP)
Russia's Su-25 jet aircraft release smoke in the colours of the Russian state flag during the Victory Day military parade in Moscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during the World War II. (Shamil Zhumatov/Pool Photo via AP)
North Korea's servicemen attend the Victory Day military parade in Moscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during the World War II. (Maxim Shipenkov/Pool Photo via AP)
Russian servicemen march as they attend the Victory Day military parade in Moscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during the World War II. (AP Photo/Pavel Bednyakov, Pool)
Russian servicemen attend the Victory Day military parade in Moscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during World War II. (AP Photo/Alexander Zemlianichenko, Pool)
Russian President Vladimir Putin, centre foreground, attends a ceremony to lay flowers at the Tomb of the Unknown Soldier by the Kremlin wall inMoscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during the World War II. (Alexander Nemenov/Pool Photo via AP)
North Korea's servicemen stand in a formation before the Victory Day military parade in Moscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during the World War II. (AP Photo/Pavel Bednyakov, Pool)
North Korea's servicemen wait for the start of the Victory Day military parade in Moscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during the World War II. (AP Photo/Pavel Bednyakov, Pool)
Russian servicemen stand in a formation before the Victory Day military parade in Moscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during the World War II. (AP Photo/Pavel Bednyakov, Pool)
Russian servicemen stand in a formation before the Victory Day military parade in Moscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during the World War II. (AP Photo/Pavel Bednyakov, Pool)
Russian servicemen stand in a formation before the Victory Day military parade in Moscow, Saturday, May 9, 2026, during celebrations of the 81st anniversary of the Soviet Union's victory over Nazi Germany during the World War II. (AP Photo/Pavel Bednyakov, Pool)
Troops attend a rehearsal for the Victory Day military parade at the Dvortsovaya (Palace) Square in St. Petersburg, Russia, Tuesday, May 5, 2026. (AP Photo/Dmitri Lovetsky)
Honour guard soldiers prepare for a rehearsal for the Victory Day military parade at the Dvortsovaya (Palace) Square in St. Petersburg, Russia, Tuesday, May 5, 2026. (AP Photo/Dmitri Lovetsky)
Honour guard soldiers perform with rifles during a rehearsal for the Victory Day military parade at the Dvortsovaya (Palace) Square in St. Petersburg, Russia, Tuesday, May 5, 2026. (AP Photo/Dmitri Lovetsky)
Troops march during a rehearsal for the Victory Day military parade at the Dvortsovaya (Palace) Square in St. Petersburg, Russia, Tuesday, May 5, 2026. (AP Photo/Dmitri Lovetsky)
