Economy

Jobless claims hit pandemic-era low even as Covid surges

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New jobless-claim filings last week reached their lowest level of the pandemic crisis, providing a sign that hiring is continuing if at a slower pace.

First-time claims for unemployment benefits totaled 712,000 last week, compared with 787,000 a week earlier and the Dow Jones estimate of 780,000, the Labor Department reported Thursday.

That marked a decrease from the upwardly revised level of 787,000 a week earlier, a drop likely aided by counting issues associated with the Thanksgiving holiday.

The jobs market has demonstrated resilience even in the face of the new wave of Covid-19 cases. Claims are off their peak of 6.9 million in late March but remain well above the pre-pandemic…



Source cnbc.com

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