The number of Americans filing new applications for unemployment benefits fell more than expected last week, suggesting the labor market continued to chug along, though risks are mounting from tariffs.

Companies are holding on to workers, despite uncertainty over trade policy and the contraction in first-quarter GDP.

K vs. 229K consensus and 229K prior (revised from 228K). Continuing claims: 1.881M vs. 1.890M consensus and 1.872M prior (revised from 1.879M).