Photo: A job seeker enters a Veteran Employment and Resource Fair in Long Beach, California, on January 9, 2024. A job seeker enters a Veteran Employment and Resource Fair in Long Beach, California, on January 9, 2024.

Initial applications for unemployment benefits in the United States unexpectedly dropped last week to the lowest level in more than a year, underscoring the resilience of the labor market to start the year.

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