U.S. Jobless Claims Fell 92K to 498K in May 1 Week -- Update
By Gwynn Guilford
Weekly unemployment claims fell to 498,000 last week--a new low
since the Covid-19 pandemic began more than a year ago--in a fresh
sign that the labor-market rebound is gathering force.
Worker filings for jobless claims, a proxy for layoffs, fell
92,000 last week from 590,000 the prior week. That brings the
four-week average of initial claims, which smooths out volatility
in weekly data, to the lowest point since the pandemic took hold,
though still well above pre-pandemic levels.
"Overall it looks like we're seeing healing in the jobs market,"
said Beth Ann Bovino, U.S. chief economist for S&P Global
Write to Gwynn Guilford at email@example.com
(END) Dow Jones Newswires
May 06, 2021 08:59 ET (12:59 GMT)
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