Jobless claims fall to 326,000, breaking three-week streak of increases
by Zachary Halaschak, Economics Reporter |
| October 07, 2021 08:32 AM
The number of new applications for unemployment benefits fell 38,000 last week to 326,000, the Labor Department reported on Thursday.
In a positive sign for the U.S. economic recovery, Thursday’s jobless claims number was less than forecasters’ expectations of 348,000.
Thursday’s numbers come after a rough August jobs report that fell well short of forecasters’ expectations . The economy added just 235,000 new jobs last month, well below the 750,000 that were expected. The overall unemployment rate dropped slightly from 5.4% to 5.2%.
Millions are still unemployed compared to before the COVID-19 pandemic when the country’s unemployment rate dipped as low as 3.5% — its lowest level in decades. The delta variant of COVID-19 has been posing obstacles for the economy and has slowed economic growth.
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