Economy

U.S weekly jobless claims total hits new pandemic-era low of 364,000

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Initial filings for unemployment insurance fell sharply last week, indicating continued improvement in the U.S. jobs market, the Labor Department reported Thursday.

First-time jobless claims totaled 364,000 for the week ended June 26, compared with the 390,000 Dow Jones estimate. That marked a new pandemic-era low and a decline of 51,000 from the previous week.

The last time there were fewer claims was the week of March 14, 2020, just before the worst of the economic damage hit.

The report comes a day before the government releases its much-anticipated nonfarm payrolls count for June. That is expected to show a gain of 706,000 against May’s 559,000, and a decrease in the unemployment rate…



Source cnbc.com

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