Recovery Continues as Jobless Claims Continue to Fall

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The Labor Department reported that 364,000 Americans filed new claims for state unemployment benefits. Economists surveyed by Dow Jones expected 388,000 new jobless claims. 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 4,000 from 411,000 to 415,000. The four-week moving average was 392,750, a decrease of 6,000 from the previous week’s revised average. This is also the lowest level for this average since March 14, 2020 when it was 225,500. The previous week’s average was revised up by 1,000 from 397,750 to 398,750.

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