Jobless claims low as hiring strengthens

The number of US residents seeking unemployment benefits fell to a pandemic low as the job market rebounds.

By

News

August 19, 2021 - 9:30 AM

WASHINGTON (AP) — The number of people seeking unemployment benefits fell last week for a fourth straight time to a pandemic low, the latest sign that America’s job market is rebounding from the pandemic recession as employers boost hiring to meet a surge in consumer demand.

The Labor Department reported Thursday that jobless claims fell by 29,000 to 348,000. The four-week average of claims, which smooths out week-to-week volatility, also fell — by 19,000, to just below 378,000, also a pandemic low.

The weekly pace of applications for unemployment aid has fallen more or less steadily since topping 900,000 in early January. The dwindling number of first-time jobless claims has coincided with the widespread administering of vaccines, which has led businesses to reopen or expand their hours and drawn consumers back to shops, restaurants, airports and entertainment venues. 

Related
June 17, 2021
June 3, 2021
May 13, 2021
March 25, 2021