US jobless claims hit pandemic low as firms scramble to hire

The number of Americans filing claims for unemployment benefits with states hit a fresh pandemic low last week, as businesses around the country struggle to fill open positions.

Another dose of data is signalling that the United States labour market continues to rebound from COVID-19 as business around the country scramble to hire workers for open positions. The number of Americans applying for unemployment benefits with states fell by 26,000 last week to 360,000, the US Bureau of Labor Statistics said on Thursday. That is the lowest reading for weekly jobless claims – a proxy for layoffs – since March 14, 2020. But it is still elevated from the pre-pandemic level of around 220,000. The four-week moving average for jobless claims, which smooths out some of the noise in the data, fell by 14,500 to 382,500 – also the lowest level since March 14, 2020.