Workers file 498,000 new jobless claims as US hits pandemic low

The number of Americans seeking unemployment benefits dropped last week to its lowest level since the start of the pandemic, the feds said Thursday.

Initial worker filings for jobless claims, seen as an indication of layoffs, reached 498,000 last week, down from a revised total of 590,000 reported the prior week, according to data released Thursday by the Labor Department. Economists surveyed by Dow Jones expected 527,000 new claims. The new data marks the fewest new filings since March 14 of last year, just before the pandemic sent claims soaring to record highs amid mass unemployment. The overall number of people on government assistance remains high, though, with over 16.1 million claiming continuing assistance, the feds said Thursday.