U.S. Claims hit new pandemic-era low
While inflation was rising, weekly jobless claims were continuing to nudge lower.
The total of 376,000 represented a decline of 9,000 from the previous week and marks another low since the March 14, 2020, level that preceded an explosion in unemployment unlike anything the U.S. had seen.
Continuing claims fell considerably, dropping by 258,000 to a new pandemic-era low of just below 3.5 million. Around the same time a year ago, the total was 18.9 million.
The total of those getting benefits under all federal programs declined by 95,099 to 15.35 million, about half where it was at the same time in 2020. Enrollment continues to decline in pandemic-related programs as the September expiration of expanded benefits nears and as many states are curtailing their programs.
On a state level, big drops were recorded in Pennsylvania (-23,703) and California (-18,999).
Reference: CNBC
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