Initial jobless claims fell to 360,000 last week, another post pandemic low.
Applications for unemployment benefits fell to a new pandemic low, showing a healing labor market, and the number of people receiving jobless aid has also trended lower as many states end enhanced pandemic programs.
Jobless claims declined to 360,000 in the week ended July 10 from a seasonally adjusted 386,000 a week earlier. Last week’s applications count marked the lowest level for claims since March 2020, the month the Covid-19 pandemic hit the U.S. economy.
The four-week moving average, which can smooth out volatility in the weekly figures, fell to 382,500, also a pandemic low.
Good news, but not great news.
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