US jobless claims approach “normal” territory, dropping to pandemic-era low of 376,000

Source: MarketWatch

“Initial weekly jobless claims fell by 9,000 to 376,000 in the week ended June 5, the U.S. Labor Department said Thursday. That’s the lowest level of claims since March 2020. Economists surveyed by the Wall Street Journal had forecast new claims would fall to a seasonally adjusted 370,000. The number of people already collecting state jobless benefits, meanwhile, fell by 258,000 to a seasonally adjusted 3.5 million in the week ended May 29. These are known as continuing claims. This is also the lowest level since the onset of the pandemic early last year.” (06/10/21)