US Initial Jobless Claims Sink as Labor Market Holds Steady

The U.S. labor market remains resilient amid broader economic volatility.

Companies look to hire new employees at a job fair in Southern Florida. Joe Raedle/Getty Images

U.S. initial jobless claims tumbled last week, signaling that companies are not laying off workers amid economic uncertainty.

Department of Labor data released on April 17  show that for the week ended April 12, the number of individuals filing new applications for unemployment benefits declined by 9,000, to a nine-week low of 215,000.