The number of Americans applying for unemployment benefits dropped again last week, with numbers still at historically low levels.
- Jobless claims dropped by 5,000 to 180,000 for the week ending April 23. First-time applications reflect the number of layoffs.
- The total number of Americans collecting jobless benefits fell slightly by 1,000 from the prior week to 1,408,000. That’s the lowest figure since February 21, 1970.
- American workers are enjoying better job security two years after the COVID-19 pandemic drove the economy into a devastating short-term recession.
- Weekly applications for unemployment aid have remained below the pre-pandemic level of 225,000 for the larger part of the year.
The four-week average for claims increased slightly to 179,750 from 177,500 the previous week.
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Source: US Department of Labor