The Labor Department reported that 293,000 Americans have filed new claims for state unemployment benefits, a decrease of 36,000. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week’s level was revised up by 3,000 from 326,000 to 329,000. The four-week moving average was 334,250, a decrease of 10,500 from the previous week’s revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week’s average was revised up by 750 from 344,000 to 344,750.
“I see this as evidence of a pick-up