The number of Americans filing first-time unemployment claims fell to a new low level during the coronavirus pandemic, according to the Labor Department on Thursday.
Initial jobless claims decreased by 34,000 to 444,000 last week, the lowest level since March 14, 2020. Analysts expected 450,000 for the week ending May 15, while the previous week was revised up by 5,000 from 473,000 to 478,000.
This marked the seventh time during the coronavirus pandemic that initial jobless claims came below 700,000.
The world’s largest economy, however, still has around 9.8 million unemployed individuals after adding only 266,000 jobs last month.
The unemployment rate rose to 6.1% in April, from 6% the previous month, according to the agency.
Source: Anadolu Agency