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Jobless claims fall again as enhanced pandemic benefits fade away

Last week’s weekly jobless claims fell to a new low during the pandemic. This was due to the removal of enhanced benefits, which resulted in fewer people being placed on the unemployment rolls.

The Labor Department reports that the number of first-time applications for unemployment insurance was 290,000. This is a decrease of 6,000 over the previous week.

Dow Jones survey of economists found they wanted even 300,000.

This filing period is used by the Labor Department to compile their closely monitored monthly nonfarm payrolls report.

Also, continuing claims dropped to the lowest point since the Covid-19 crises began. They fell to 2.48 million. This is a decrease of 122,000 over the week before. These numbers are a week below the weekly headline total.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.