New jobless claims fell to their lowest level during the pandemic last week, adding to promising developments for the long-struggling labor market, which is staging an encouraging return in the form of a recent wave of Covid-19 infections. Is.
According to the weekly, around 267,000 people filed initial jobless claims in the week ending November 6, a decline of 4,000 from the previous week and the lowest level since March 14, 2020. statistics Released on Thursday.
Despite the decline, the figures failed to meet economists’ expectations for nearly 260,000 new claims last week, according to Businesshala data.
Continuing claims, a measure of the total number of individuals receiving benefits through all programs, also hit a post-Covid low, falling 107,000 from the previous week to nearly 2.6 million.
In a comparable week to last year, 21.7 million unemployment claims were filed as new COVID-19 infections wavered flowing through the nation before the holidays.