Initial jobless claims for the week ending on February 20 dropped dramatically to a seasonally adjusted 730,000, one of the lowest readings since the pandemic began and well below expectations.
Dow Jones economists expected 845,000 new claims, similar to the 841,000 seen the previous week.
The figure remains higher than the highest pre-pandemic record for weekly claims.
An additional 451,402 people signed up for an emergency unemployment program, Pandemic Unemployment Assistance, bringing the total number of claims to near 1.2 million.
Read more at The Hill.
{Matzav.com}
