Jobless claims fall to 290,000, lowest since start of pandemic

The number of new applications for unemployment benefits fell 6,000 last week to 290,000, the Labor Department reported on Thursday.

In a positive sign for the economic recovery, Thursday’s jobless claims number was less than forecasters’ expectations of 300,000. It also represents the fewest weekly claims for unemployment since the COVID-19 pandemic began.

"All this signals that most employers don’t need or want to shed workers. It is quite the contrary with job openings remarkably high," said Mark Hamrick, senior economic analyst at Bankrate. "With the nation’s unemployment rate at 4.8%,...