U.S. initial jobless claims tumbled last week, signaling that companies are not laying off workers amid economic uncertainty.
Department of Labor data 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.
This came in below the consensus forecast of 225,000.
Jobless claims filed under programs for federal workers edged up by just 34, to 548.
Economists monitor weekly jobless claims because they are an important indicator of the health of the U.S. labor market, particularly during volatile economic conditions.
Continuing jobless claims—the number of people currently receiving unemployment benefits—increased to a higher-than-expected 1.885 million from 1.844 million….