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.

Initial jobless claims held steady at 229,000 in the week ending May 10, the Labor Department said Thursday. Economists polled by The Wall Street Journal had estimated new claims would fall by 2,000 to 226,

The number of Americans filing new applications for unemployment benefits was unchanged last week, but job opportunities are becoming more scarce for those out of work as economic uncertainty from tariffs discourages businesses from boosting hiring.

Initial jobless claims for week ended May 10 were 229 K vs. 229K consensus and 229K prior (revised from 228K). The four-week moving average was 230,500, an increase of 3,250 from the previous week's revised average  of 227,