Jobless Claims Fall to Lowest Level Since Start of Covid-19 Pandemic

Jobless claims fell below 300,000 last week for the first time since the Covid-19 pandemic began in 2020, a sign companies are holding tightly to their workers amid strong demand for labor.

Claims, a proxy for layoffs, decreased to 293,000 last week from 329,000 a week earlier, the Labor Department said Thursday. Claims are at the lowest level since the coronavirus pandemic took hold in March 2020. The four-week moving average of claims, which smooths week-to-week variations, fell to 334,250, also the lowest since March 2020.

The report showed that...