Jobless Claims Dropped Last Week and Remain Near Historic Lows
Initial jobless claims, a proxy for layoffs, decreased to 210,000 last week from the previous week’s level of 218,000, the Labor Department said Thursday.
Claims remain near 2019 prepandemic levels, when the job market was also historically tight. The four-week average for claims, which smooths out volatility in the weekly figures, rose to 206,750 last week.
Thursday’s report showed continuing claims, a proxy for the total number of people receiving payments from state unemployment programs, increased slightly to 1.35 million for the week ended May 14 from 1.32 million a week earlier....