U.S. weekly jobless claims total 348,000, a new pandemic-era low.
First-time filings for unemployment insurance hit a new pandemic-era low last week, a sign that the jobs market is improving heading into the fall.
In the weeks that followed, more than 22 million Americans would be sent to the unemployment line, sending the jobless rate skyrocketing to 14.8%. The jobs market has been on a steady recovery trajectory since then, but remains well off its pre-pandemic health.were off their lows following the news, but contracts tied to the Dow Jones Industrial Average remained down nearly 300 points.
A sizeable chunk of the decline in claims came from Texas, which fell by 8,311, according to unadjusted data. Illinois also declined 3,577 and Michigan was lower by 2,188.
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