Jobless Claims Fall Below 500,000 For First Time Since Pandemic Crash

Jobless Claims Fall Below 500,000 , For First Time Since Pandemic Crash.

498,000 new jobless claims were filed last week, falling by nearly 100,000 claims from the week before.

The number was well below economists' predictions of 527,000.

Job gains are cutting financial stress and poverty by leaps and bounds now, and this strong trend should continue at least through the summer, Robert Frick, Navy Federal Credit Union Corporate Economist, via CNBC.

The fall in jobless claims is likely a reflection of easing restrictions all across the country.

As well as the fact that at least two million daily vaccinations are taking place in the U.S. Continuing claims data for last week revealed a rise of 37,000.

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Nearly 3.7 million people continue to receive unemployment benefits