US Unemployment Claims fell by 14 thousand to 385 thousand

Zack William06 Aug, 2021Business

Last week, the number of Americans applying for unemployment benefits fell by 14,000 to 385,000. It is evident 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 more or less fallen steadily since topping 900,000 in early January. They were coming in at around 220,000 a week before the pandemic slammed the United States in March 2020.