Unemployment claims fall to pandemic-era low, with 340,000 filing for aid

Fewer American applied for jobless aid last week than at any time since the COVID-19 pandemic began, a sign the job market continues to recover despite the latest coronavirus surge.

Some 340,000 people filed first-time unemployment benefits in the week ended August 28, the Labor Department said Thursday. That's 14,000 fewer than the prior week and the lowest number since March 14, 2020. Another 102,000 claims were for Pandemic Unemployment Assistance, a federal program for gig workers and freelancers who don't qualify for traditional benefits. The weekly count of workers applying for aid has fallen steadily since topping 900,000 in early January. Still, a resurgence of the coronavirus fueled by the highly contagious Delta variant has clouded the economic outlook. COVID-19 cases are now surpassing 135,000 a day, up from fewer than 12,000 in early July.