Weekly Jobless Claims Fall to Lowest Level in More Than a Year

Weekly Jobless Claims Fall to , Lowest Level in More Than a Year.

684,000 first-time jobless claims were filed last week, down from 781,000 claims that were filed in the previous week.

Economists had predicted about 735,000 jobless claims. Last week's number represents the first time the new claims fell below 700,000 since the pandemic era began in March 2020.

Last week's claims also beat the record low for pre-pandemic levels, 695,000 that were filed in Oct.

1982.

The total number of continuing claims also fell by 264,000 to 3.87 million.

Despite the promising data, Fed Chairman Jerome Powell stated the Federal Reserve will maintain the growth policies that are currently in place.

We will very, very gradually over time and with great transparency, when the economy has all but fully recovered, we will be pulling back the support that we provided during emergency times, Jerome Powell, Federal Reserve Chairman, via CNBC