(Department of Labor) US jobless claims extended declines by 51,000 to reach a new low of 364,000 in the pandemic era. The jobless claims were lower than expected 390,000 as the labor market showed continued recoveries.
At 364,000, jobless claims were at the lowest level since March 14. 2020. The previous week’s jobless claims were revised up by 4,000 to 415,000.
Continuing claims were 3.469 million, up by 56,000 from the previous week. The previous week’s continuing claims were revised up by 23,000 to 3.413 million.
Under state programs, unadjusted initial claims reached 359,130 after falling by 9.6% from the previous week.
Pennsylvania, Michigan, and Texas recorded the largest increases in initial claims. The largest declines in initial claims were recorded in Illinois, California, Ohio, Florida, and Georgia.
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