US jobless claims reverse, fall to new post-lockdown low of 360k

Source: The Hill

“The number of new applications for jobless benefits fell to a new post-lockdown low last week, according to data released Thursday by the Labor Department. In the week ending July 10, seasonally adjusted initial claims for unemployment insurance fell to 360,000, down by 26,000 from the previous week’s revised level of 386,000. After rising in the previous week, jobless claims fell to their lowest level since March 14, 2020 — when claims totaled 225,000 shortly before the COVID-19 pandemic shattered the economy.” (07/15/21)