Jobless Claims Drop to Pandemic-Era Low of 498,000
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From the Center
U.S. Unemployment Claims Fell to 498,000 Last Week
Weekly unemployment claims fell to 498,000 last week—a new low since the Covid-19 pandemic began more than a year ago—in a fresh sign that the labor-market rebound is gathering force.
Worker filings for jobless claims, a proxy for layoffs, fell 92,000 last week from 590,000 the prior week. That brings the four-week average of initial claims, which smooths out volatility in weekly data, to the lowest point since the pandemic took hold, though still well above pre-pandemic levels.
“Overall it looks like we’re seeing healing in the jobs market,” said...
From the Left
U.S. Jobless Claims Fall More Than Forecast to Pandemic Low
Applications for U.S. state unemployment insurance fell last week to a fresh pandemic low as labor market conditions continued to improve and the economy reopened more broadly.
Initial claims in regular state programs fell by 92,000 to 498,000 in the week ended May 1, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 538,000 claims. The prior week’s figure was revised up to 590,000.
Initial unemployment claims fell to a fresh pandemic low last week
The job market is strengthening as employers...
From the Right
Jobless claims drop to new pandemic low as US economic recovery gains steam
The number of Americans filing for unemployment benefits for the first time fell to a new pandemic low last week, the latest evidence that layoffs are slowing as the economic rebound strengthens.
Figures released Thursday by the Labor Department show that applications for the week ended May 1 fell to 498,000 from a revised 590,000 a week earlier.
While the number of unemployed workers applying for benefits is down sharply from the peak of almost 7 million that was reached when stay-at-home orders were first issued a year...
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