US jobless claims drop by 14,000 to 385,000 | www.WDIO.com

US jobless claims drop by 14,000 to 385,000

US jobless claims drop by 14,000 to 385,000 Photo: WDIO/MGN

PAUL WISEMAN AP Economics Writer
Created: August 05, 2021 09:53 AM

WASHINGTON (AP) - The number of Americans applying for unemployment benefits fell last week by 14,000 to 385,000 more evidence that the economy and the job market are rebounding briskly from the coronavirus recession. The Labor Department reported Thursday that unemployment claims - a proxy for layoffs - dropped last week from a revised 399,000 the week before.

The applications have mostly fallen steadily since topping 900,000 in early January. Still, they remain high by historic levels:

Before the pandemic slammed the United States in March 2020, they were coming in at around 220,000 a week.
 

Credits

PAUL WISEMAN AP Economics Writer

Copyright 2021 The Associated Press. All rights reserved.

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