Jobless claims drop to a fresh pandemic low

The number of Americans filing for unemployment benefits dropped to a new pandemic low last week, dipping below 300,000 for the first time since March 2020. 

Figures released Thursday by the Labor Department show that applications for the week ended Oct. 9 fell to 293,000 from a revised 344,750 a week earlier. It marked the best level of jobless claims since March 14, 2020, when there were 256,000 applicants just as COVID-19 began to shut down the nation's economy. 

Continuing claims, or the number of Americans who are consecutively receiving unemployment aid,...