U.S. Jobless Claims, Benefits Payments Fall to Pandemic Lows

Applications for unemployment benefits fell to a new pandemic low last week, as the labor market continued to heal from the Covid-19 pandemic.

Jobless claims declined to 360,000 in the week ended July 10 from a seasonally adjusted 386,000 a week earlier. Last week’s applications count marked the lowest level for claims since March 2020, the month the pandemic hit the U.S. economy.

The four-week moving average, which can smooth out volatility in the weekly figures, fell to 382,500, also a pandemic low.

Number of people claiming unemploymentbenefits, by programSource: Labor...