Economics
U.S. Initial Jobless Claims Drop to Lowest Since March 2020
- Applications dip below 300,000 to fresh pandemic low
- However, unadjusted unemployment claims rose by 16,000
This article is for subscribers only.
Applications for U.S. state unemployment benefits fell last week to the lowest since March 2020, showing employers are hanging onto their workers in a tight labor market.
Initial unemployment claims in regular state programs totaled 293,000 in the week ended Oct. 9, a decrease of 36,000 from the prior week, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for a slight decrease to 320,000 applications.