Initial Jobless Claims Rise Again

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States reported that 719,000 U.S. workers filed for new unemployment benefits during the week ending Mar. 27, an increase of 61,000 after last week’s pandemic-era low. The total number of workers continuing to claim unemployment benefits fell slightly to 3.8 million. The recent overall improvement in claims data is consistent with accelerating labor market momentum as the economy reopens. Still, a complete recovery to pre-pandemic levels when new jobless claims averaged about 200,000 per week is still many months away, according to economists.

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