U.S. Jobless Claims in Line with Expectations

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.