Weekly jobless claims fall to lowest level since lockdowns
By Sylvan Lane - 04/15/21 08:41 AM EDT
Weekly jobless claims plunged by 200,000 applications to the lowest level since the start of the COVID-19 pandemic more than a year ago, the Labor Department reported Thursday
In the week ending April 10, roughly 576,000 Americans filed initial claims for unemployment benefits, plummeting from a revised total of 769,000 in the previous week.
Last week’s total was the lowest since the week ending March 14, 2020, when Americans filed 256,000 initial claims for jobless benefits as entire swaths of the economy began to shut down.
While weekly jobless claims data can be thrown off by fraud and backlogs — two significant issues during the pandemic — last week’s sharp decline is another encouraging sign of the U.S. economy beginning to rapidly recover.
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https://thehill.com/policy/finance/548373-weekly-jobless-claims-fall-by-200k-to-lowest-level-since-march-2020
