Colorado Springs, Colorado 2021-05-06 09:58:49 –
Washington — The number of Americans seeking unemployment assistance dropped to 498,000 last week. This is the lowest point since a viral pandemic occurred 14 months ago.
This figure shows that the job market is gaining strength as businesses reopen and consumers spend more.
Applications have decreased by 92,000 from 590,000 revised a week ago.
The number of weekly unemployment claims (a rough measure of the pace of layoffs) fell sharply from the January peak of 900,000 as employers increased employment.
The pace of applications is well above the level of about 230,000 that was widespread before the virus hit the economy last March.
Number of Americans seeking unemployment falls to 498K — an all-time low during the pandemic Source link Number of Americans seeking unemployment falls to 498K — an all-time low during the pandemic