First-time filings for unemployment claims in the U.S. dropped to 310,000 last week, easily the lowest of the Covid era and a significant step toward the pre-pandemic normal, the Labor Department reported Thursday.
Claims had been expected to total 335,000 for the week ended Sept. 4, according to economists surveyed by Dow Jones.
The total for the week ended Sept. 4 represented a substantial drop from the previous week’s 345,000 and is the lowest since March 14, 2020. Claims may have been still lower except for a substantial bump in Louisiana, which was hammered by Hurricane Ida and still has nearly 250,000 homes and businesses without power.
Initial filings had been trending around 215,000…