Unemployment claims drop to lowest level since November By Irina Ivanova Weekly jobless claims decline
The number of Americans filing first-time unemployment claims dropped to its lowest level since late November, while the ranks of those receiving long-term jobless assistance swelled.
Roughly 730,000 people filed for unemployment benefits in the week ended February 20, the Labor Department said Thursday. That s a drop of 111,000 from the prior week. Another 451,000 people applied for Pandemic Unemployment Assistance, a federal program for self-employed and gig workers. Despite weekly directional changes, the magnitude of total initial claims is still extreme at 5.6 times higher than the pre-COVID era, AnnElizabeth Konkel, economist at the Indeed Hiring Lab, said in a note.
A glimmer of hope: Only 730,000 Americans filed for jobless claims last week
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A glimmer of hope: Only 730,000 Americans filed for jobless claims last week
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