Weekly Jobless Claims Tumble to Lowest Level in More Than a Year

CNBC

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

First-time claims for unemployment insurance unexpectedly fell sharply last week amid signs that hiring has picked up in the U.S. economy, the Labor Department reported Thursday.

Claims totaled 684,000 for the week ended March 20, the first time the number has been below 700,000 during the Covid-19 era. The level was a substantial decline from the 781,000 from a week earlier and was the lowest since March 14, 2020, just as the pandemic had begun.

Economists surveyed by Dow Jones had been expecting claims to total 735,000.