Braking Down The News

U.S. Jobless Claims Hit New Pandemic Low as Employers Retain Workers

Initial filings for unemployment benefits fell to 310,000 last week

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Filings for jobless benefits last week fell and reached a pandemic low, extending a downward trend as demand for labor remains high and employers hold onto workers despite the Delta variant of Covid-19.

Initial unemployment claims, a proxy for layoffs, moved lower in the week ended Sept. 4 to 310,000 from a slightly upwardly revised 345,000 the prior week, the Labor Department reported Thursday. The four-week moving average, which smooths out weekly volatility in the data, fell to 339,500, also a pandemic low.

 

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