US jobless claims drop to pandemic low of 281,000
ABC News
The number of Americans applying for unemployment benefits fell to a pandemic low last week, another sign that the job market and economy continue to recover from last year’s coronavirus recession
WASHINGTON -- The number of Americans applying for unemployment benefits fell to a pandemic low last week as the job market continues to recover from last year's coronavirus recession.
Jobless claims dropped by 10,000 to 281,000, lowest since mid-March 2020, the Labor Department said Thursday. Since topping 900,000 in early January, weekly applications have steadily dropped, moving ever closer to pre-pandemic levels just above 200,000.
The four-week average of claims, which smooths out week-to-week gyrations, fell by nearly 21,000 to 299,250, also a pandemic low.
In all, 2.2 million people were collecting unemployment checks the week of Oct. 16, down from 7.7 million a year earlier.
