Weekly jobless claims hit new pandemic low of 547,000
By Niv Elis - 04/22/21 08:35 AM EDT
Initial jobless claims for the week ending April 17 fell to a seasonally adjusted 547,000, a 39,000 drop from the previous week, and the lowest level since pandemic lockdowns began last March.
The continued drop in weekly claims is a sign of an improving labor market but also indicates how tough conditions remain.
The weekly figure is over double the pre-pandemic level.
"Today’s Labor Department report underscores the significant distance remaining for the labor market to fully recover," said Andrew Stettner, a senior fellow at The Century Foundation.
"While new layoffs have slowed considerably, they are still nowhere near the level associated with a stable labor market."
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https://thehill.com/policy/finance/549668-weekly-jobless-claims-hit-new-pandemic-low-of-547000
