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 Ratings.

Write to Gwynn Guilford at


(END) Dow Jones Newswires

May 06, 2021 08:59 ET (12:59 GMT)

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