Weekly initial jobless claims fall below 300,000 for first time since pandemic began.
"A big drop in unemployment claims is the strongest evidence yet that the Covid-19 delta wave has lost its influence on layoffs," said one economist.The latest weekly initial jobless claims dropped below 300,000 for the first time since the pandemic began, according to data released Thursday by the Department of Labor.
The latest number roundly beat out economists' forecasts of 318,000, and is an indication that companies are holding on to their workers amid a tight labor market.
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