Economy

U.S. weekly jobless claims hit new pandemic-era low in a sign of hope for employment

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First-time filings for unemployment insurance hit a new pandemic-era low last week, a sign that the jobs market is improving heading into the fall.

Jobless claims for the week ended Aug. 14 totaled 348,000, the Labor Department reported Thursday. That was below the Dow Jones estimate for 365,000 and a decline of 29,000 from the previous week.

The last time claims were this low was March 14, 2020, just as the Covid-19 pandemic declaration hit and sent the U.S. economy spiraling into its deepest but briefest recession on record.

In the weeks that followed, more than 22 million Americans would be sent to the unemployment line, sending the jobless rate skyrocketing to 14.8%. The jobs market has…



Source cnbc.com

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