Jobless claims drop for fifth week in row
Rob Bondurant, a supervisor at Great Southern Industries, a packaging company, loads up a finishing machine in the Jackson, Miss., facility, Friday, May 28, 2021. The lack of workers has forced some supervisors to assume additional duties. Charita McCarrol, human resources manager at the company, cites the abuse by some people of the $300-a-week federal supplement for people who lost their jobs during the COVID-19 pandemic, as well as other programs that offered extended support for the unemployed, with providing a soon to end financial staple. She also cited that for some people, a steady paycheck and benefits like health care, are not enough of an incentive to pass up the expiring benefits.
WASHINGTON — The number of Americans seeking unemployment benefits fell last week for a fifth straight week to a new pandemic low, the latest evidence that the U.S. job market is recovering as the economy further reopens.
The Labor Department reported Thursday that jobless claims dropped to 385,000, down 20,000 from the week before. The number of weekly applications for unemployment aid, which generally reflects the pace of layoffs, has fallen steadily all year, though it remains high by historical standards.
The decline in applications reflects a swift rebound in economic growth.
