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U.S. Jobless Claims Remain Near Lowest Levels of Covid-19 Pandemic

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U.S. Jobless Claims Remain Near Lowest Levels of Covid-19 Pandemic

Filings for unemployment benefits rose last week but remained near their lowest levels since the pandemic’s onset, amid signs of a broader U.S. economic recovery.

Workers filed 719,000 initial jobless claims, on a seasonally adjusted basis, in the week ended March 27, the Labor Department said Thursday. The increase followed a downward revision to 658,000 initial claims the prior week, the lowest point since the pandemic hit in March 2020.

The four-week moving average, which smooths out volatility in the numbers, fell to 719,000, also a low during the pandemic.

Initial jobless claims, a proxy for layoffs, remain well above pre-pandemic levels—the weekly average in 2019 was 218,000—but have trended downward since the start of the year.

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