Unemployment claims dip to another pandemic low

The number of Americans applying for jobless aid continues to drop, signaling that the job market is recovering as more people are vaccinated against COVID-19 and consumers resume normal activities. 

Some 385,000 people filed for unemployment aid last week, a drop of 20,000 from the previous week and the lowest level since March 14, 2020, the Labor Department said Thursday. Another 76,000 claims were filed for Pandemic Unemployment Assistance, a federal program for self-employed and gig workers. "New jobless claims have sunk to a fresh pandemic low, falling for a fifth straight week," Mark Hamrick, senior economic analyst at Bankrate, said in an email. "The seasonally adjusted headline number is now below 400,000, which has often been seen as psychologically important during past economic downturns."