The number of Americans filing applications for unemployment benefits dipped last week, signaling the labor market’s resilience amid a volatile climate.
Initial jobless claims totaled 209,000 for the week ending May 16, down by 3,000 from the previous week, according to new Department of Labor data released on May 21.
Economists had penciled in a reading of 210,000.
The four-week average, which strips out week-to-week volatility, slipped to below 203,000—the lowest in more than two years.
Various employment indicators have suggested the U.S. labor market is heating up.
The economy added 115,000 new jobs in April, topping the consensus forecast. The unemployment rate also remained low at 4.3 percent….