Weekly Jobless Claims Fall

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States reported that 310,000 workers filed for new unemployment benefits during the week ending September 4, a decrease of 35,000 from the previous week’s revised level and the lowest level since the pandemic took hold in the U.S. in March 2020. Although new claims are down significantly from this time last year, they are still elevated compared to their 2019 weekly average of just over 200,000. Jobless claims have trended lower since mid-July, despite a rise in COVID-19 cases tied to the spread of the Delta variant and weaker-than-expected job growth in August.

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