US Jobless Claims Hold Steady in Sign of Resilient Labor Market

Initial applications for US unemployment benefits remained subdued last week, consistent with a healthy job market.

Initial claims held at 212,000 in the week ended April 13, according to Labor Department data released on Thursday. The median forecast in a Bloomberg survey of economists called for 215,000.

Continuing claims, a proxy for the number of people receiving unemployment benefits, were also little changed at 1.81 million in the week ended April 6.

The job market has remained surprisingly resilient despite elevated interest rates. Federal Reserve Chair Jerome Powell signaled Tuesday that the continued strength in the labor market ...