Initial claims for unemployment insurance in the United States fell to a new pandemic-era low last week.
Figures released Thursday by the U.S. Labor Department revealed first-time filings for benefits totaled 360,000, in line with Dow Jones estimates and the best number since March 14, 2020.
The total represented a substantial decrease from the previous week’s upwardly revised 386,000.
The department also said continuing claims, which run a week behind the headline number, fell sharply, declining by 126,000 to 3.24 million. That also established a new low for a jobs market that still has some distance to go before getting back to its pre-COVID 19 self but has made significant strides.
Markets reacted little to the claims news, with stock market futures pointing lower and government bond yields edging down following the release.
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