Unemployment claims in US drop to lowest level since start of pandemic

World

Published: 2021-04-15 19:40

Last Updated: 2024-04-18 18:22


Unemployment claims in US drop to lowest level since start of pandemic
Unemployment claims in US drop to lowest level since start of pandemic

Jobless claims in the United States fell sharply last week to less than 600,000, the lowest level since the start of the pandemi in March 2020, reflecting a recovery in the world's largest economy.

Between April 4 and April 10, 576,000 people were registered as unemployed, compared to 769,000 the previous week, according to data released Thursday by the Ministry of Labor.

The number is better than analysts expected, as they estimated it to be 695,000.

This is the lowest level of unemployment benefits since March 14, 2020, when the number was 256,000, according to the Ministry of Labor.

The total number of beneficiaries of all aid programs due to loss of a job or income was 16.9 million at the end of March, according to the latest available data.

Economic activity is starting to resume in the United States, with one in four Americans having received a COVID-19 vaccine. 

The level of unemployment decreased in March to six percent.