Jobless Claims Drop Again for a New Pandemic Low

Jobless Claims Drop Again for a New Pandemic Low.

According to the Labor Department's report on May 20, jobless claims dropped to a new low of 444,000 last week.

The number is lower than the 452,000 claims economists had predicted.

The previous week saw 478,000 new claims. The new numbers are significantly lower than the over 2.3 million claims that were filed during the same period one year ago.

The economic rebound comes as the U.S. continues to administer 1.8 million doses of the COVID-19 vaccine per day.

Still, continuing claims remain at 3.7 million.

Businesses such as McDonald's and Amazon have offered increased wages and more incentives to encourage workers to seek employment once again.

Businesses such as McDonald's and Amazon have offered increased wages and more incentives to encourage workers to seek employment once again